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Thursday, June 25, 2015

Axis Bank launches `Secure+' debit card with enhanced security features

Axis Bank, India’s third largest private sector bank launched Secure+ debit card with security features that allow customers to modify limits and switch off card usage when not required.

An EMV chip based debit card, Secure + safeguards customer’s wallet by blocking Axis Bank cards as well as other bank cards held by the customers in her/his wallet with a single phone call.

In line with government’s initiative to promote cashless transactions, the card offers emergency assistance and covers hotel and flight expenses in case of loss of tickets and wallet. The facility is available for customers within the country and also while travelling abroad. The card also offers an enhanced personal accident insurance limit of Rs. 5 Lakh, the bank said in a statement.

The Bank has also launched ‘Total Control’, a unique platform that empowers debit card customers to self-manage and customise their card features that allows customers to modify limits, choose between domestic or international usage, switch on or off card and even replace the card through a mobile application or internet or phone banking facility.

“The platform will act as a control pad for customers to manage card features and strengthen the level of security while transacting through various banking channels. The Total Control platform, along with Secure+ debit card offers customers both proactive as well as reactive control over the security of their cards,” the bank said.

“Less than 10 per cent of customers use debit cards for purchases. The top reason they stay away is concern around security. It combines chip security, wallet security, fraud protection and travel assistance - all in one card. Managing the security concerns will go a long way in enhancing the attractiveness of cashless electronic transactions in the country” said Jairam Sridharan, President & Head – Retail Lending & Payments, Axis Bank.

Source : Thehindubusinessline


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