I-EXPRESS

ICICI Bank has launched its “I-Express” instant cross-border money transfer option for non-resident Indians (NRIs). Available through the ICICI Bank’s
select partners in the Gulf countries, “I-Express” offers the sender the option of visiting any partner outlet for instant credit into the beneficiary
account maintained with ICICI Bank in India. Funds are instantly remitted and the beneficiary could withdraw the money immediately and are accessible
through the network of over 2,500 branches and 5,600 ATMs, apart from the over 55,000 Visa-enabled ATMs. ICICI Bank provides remittance to customers in 40
countries worldwide.

HDFC DEBIT

The HDFC Bank has launched Platinum Debit Card with Rs one lakh cash withdrawal limit on ATM and Rs 1.25 lakh on POS. The HDFC Bank “EasyShop Platinum Debit Card” replaces your ATM/ Regular Debit Card with extended cardholder privileges. It also offers cash back; for every Rs 100 spent on the card, cardholders ger Re 1 as cash back, valid on all purchases made through the card with no date restrictions.

PREMIERMILES

Citibank has launched the “PremierMiles” Credit Card with frequent flyers as a ‘universal’ mileage platform. This platform allows cardholders the freedom and flexibility to earn miles on their travel on over 50 domestic and international various airlines, setting customers free from the limitations of choosing one loyalty program over another. The feature-rich Card offers a superior earn rate of 10 PremierMiles per Rs.100 on all airline spends and a preferential interest rate. It also lets users enjoy access to over 700 VIP lounges at airports across the world, dining experiences at over 800 restaurants and special offers at PVR Cinemas and access to a dedicated Priority PremierMiles helpline for query resolution. The annual fee is rupees Five Thousand, the Citibank PremierMiles Cardmembers receive a first-year activation bonus of 5,000 PremierMiles. An annual spending of Rs.4 Lakh in a year earns cardholders a bonus 2,500 PremierMiles. All non-airline purchases on the card earn customers 2.5 PremierMiles for every Rs.100 spent.

RNCOS

The Indian payment card market is one of the fast growing markets. The prepaid card market is one of the promising areas expected to strengthen the Indian payment card market, according to the RNCOS “Indian Payment Card Market Forecast to 2012” report. ICICI bank, for example, has emerged as one of the largest players in the Indian payment card segment focusing on domestic payroll cards, international travel cards as well as prepaid fleet cards. The report also covers a ‘current and future outlook’ section that analyzes the Indian financial card market in present environment and based on effective techniques and methods, forecast the future market potential. The forecasting section not only brings out future projections but also presents the factors driving growth in market. RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments.

ADITYA BIRLA MINACS

Aditya Birla Minacs has been certified as PCI-DSS compliant as a Level 1 Service Provider. Minacs is now in a select group of about 15 entities globally that are deemed certified and listed as such across multiple jurisdictions. This current certification spans both North America and the Asia Pacific regions. Aditya Birla Minacs business solutions company partners with global corporations in the manufacturing, retail, telecom, technology, media and entertainment, banking, insurance, healthcare and public sectors through 16,000 Minacs experts across 3 continents and 32 centers.

ELECTRACARD

Electra Card Services (ECS) electronic payments solution has received Payment Application Data Security Standard certification from the PCI Security Standards Council for its “electraSWITCH.” The “electraSWITCH” EMV compliant solution EFT authorization and routing switching solution that seamlessly bridges real world and virtual payment channels. It provides financial institutions with an open platform based high availability solution to deliver services through ATMs, Kiosks, Bunch Note Acceptors, Cash Deposit Machines, POS, Internet, Telephone, and Mobiles.

TRANSFER2HOME

Standard Chartered Bank has made available its “Transfer2Home” online remittance service, allowing users to transfer money to India from USA, UK, UAE, Singapore, Hong Kong and Bahrain. In partnership with TimesofMoney payments service provider, Standard Chartered can now provide standard platform transaction processing which is fully compliant with payment norms suiting regulatory framework in several countries worldwide.

ATM PROTOTYPE

Minaean Habitat (India) (MHI) has secured a Purchase Order from Axis Bank for the supply and installation of a prototype of an ATM Kiosk. Axis Bank joins MHI’s other clients who have ordered ATM Kiosks including State Bank of India, ICICI Bank and Canara Bank. Axis Bank is one of the top four Indian banks, previously known as UTI Bank (Unit Trust of India), and is aggressively pursuing its mandate to expand in to semi-urban regions of India. The award of this trial order gives MHI an opportunity to tap in to the bank’s ATM kiosk requirements as it continues its expansion efforts. ATM Kiosks remain a key product in the Modular Buildings division of MHI. The units are wholly manufactured and prefabricated in-house and then shipped to site for installation under the supervision of MHI engineers.

E-LICENSES

Gemalto has surpassed the ten million mark for
electronic driver’s licenses and electronic registration certificates
for vehicles delivered to India. The e-Driver’s License incorporates a microprocessor that securely
stores the driver’s data, protecting citizens against identity theft. In
addition, it contains information on the driver’s history which is
expected to contribute to a reduction in car accidents. Similarly,
statutory data about the vehicle, its registration, its owner, vehicle
insurance and pollution control certification is stored in the
microprocessor embedded in the e-Registration Certificate card.
Gemalto is also deploying Driver’s Licenses in Australia, El Salvador,
Finland, Mexico, Norway and Sweden.

VISA & MONITISE

Visa and mobile financial services provider Monitise have entered into
a joint venture that will provide a technology platform for financial institutions and mobile network operators in India to offer a range of mobile financial services to consumers. The new company will combine Visa’s expertise in enabling secure, globally interoperable financial transactions with Monitise’s know-how in developing mobile financial technology for a broad range of handsets.
The joint venture builds on an existing partnership between Visa and Monitise, and will give providers of financial services in India a platform to accelerate the delivery of mobile financial services such as banking, bill payments, mass transit ticketing, mobile top-up and others to consumers. Over the past two years, Visa has actively partnered with financial institutions, mobile network operators and technology providers, including Monitise, to extend the benefits of digital currency to more consumers in more countries around the world. India is the world’s second largest mobile market with an estimated 584 million mobile phone subscriptions as of 31 March 20103.