Reserve Bank of India
20:39
Card Transaction in Contactless Mode-Relaxation in Requirement of Additional Factor of Authentication
Card Transaction in Contactless Mode-Relaxation in Requirement of Additional Factor of Authentication
Showing posts with label debit cards. Show all posts
Showing posts with label debit cards. Show all posts
Friday, 4 December 2020
Friday, 17 January 2020
Tuesday, 18 July 2017
Friday, 30 June 2017
ministry of Finance
07:44
GST: Bank and Insurance Companies
GST: Bank and Insurance Companies
From insurance premium to ATM transaction, banking will be expensive under GST
Ahead of the July 1 roll out of the Goods and Services Tax (GST), the government has repeatedly stated that the tax incidence on most goods and services will remain the same even if it does not come down. However, various sectors have raised concerns contrary to this claim.
One such area is of the financial services offered by banks and insurance companies, which are expected to pinch your pockets more under GST. Financial service charges include service charges on ATM transactions and Credit and Debit Cards, insurance premiums, EMI (Easy Monthly Installment) etc.
Under GST, financial services have been put under the 18 per cent slab, whereas currently customers pay 15 per cent service tax for them. Thus, a straight 3 per cent hike in your bills may be expected.
For example, if your annual premium for a Rs 1 crore term plan works out to Rs 25,000, GST will result in a tax burden of Rs 4,500, compared to Rs 3,750 currently.
Similarly, State Bank of India (SBI) charges Rs 50 plus service tax (15 per cent), for each withdrawal at banks beyond four free transactions. So, currently for withdrawing Rs 10,000, you need to pay a sum of Rs 1,550 ( Rs 1,500 as service charge plus Rs 50). Under GST, this transaction will attract a service charge of Rs 1,850.
Banks and insurance companies have already started to send out messages to its customers warning about the hike. SBI Card has sent SMS to its customers alerting about the higher incidence of tax.
"Important: The Government of India proposes to implement the GST which is likely to be effective from July 1, 2017. Consequently, the existing service tax rate of 15 per cent shall be replaced by a GST rate of 18 per cent," the SMS sent by SBI read.
An SBI official confirmed the same.
Banks like Standard Chartered and HDFC are also sending messages related to GST to their customers.
ICICI Prudential Life Insurance, in email messages to its customers, said premium payable on term policy and fund management charges on a Unit Linked Insurance Policy will attract 18 per cent GST post implementation of the new indirect tax regime.
GST is touted as the single biggest tax reform since India's independence in 1947 and is expected to add 2 per cent to India's GDP (gross domestic product). It aims to subsume the various central and state taxes that are currently levied on goods and services, bringing India under a uniform tax regime.
GST is set to be launched on the midnight of June 30 and July 1 by the President Pranab Mukherjee. Prime Minister Narendra Modi, Vice President Hamid Ansari, Lok Sabha speaker Sumitra Mahajan, members of Parliament and GST councils and chief ministers of all states have also been invited. Former Prime Ministers Manmohan Singh and H D Deve Gowda are also expected to grace the occasion.
Source:Times Of India
Tuesday, 13 June 2017
retail business
08:30
Double Swiping of Payment Cards to be discontinued from 15th June 2017
Double Swiping of Payment Cards to be discontinued from 15th June 2017
28th May 2017 - Manama, Bahrain - The Central Bank of Bahrain (CBB) has announced that all merchants and shopkeepers in Bahrain are required to stop their present practice of "double swiping" payment cards such as credit, debit, charge or prepaid cards, at their own point of sale (POS) and cash registers, from 15th June, 2017.
“Double swiping” means a merchant or shopkeeper swiping a card for the second time at his or her point of sale (POS) or cash register, immediately after the card transaction is approved in response to the first insert/swipe of the card at a POS belonging to the card acquirer. This practice of "double swiping" is widely considered as unsecure and hence, being discouraged by a number of countries, as well as card companies like VISA, during the last couple of years.
Over the years, the CBB has taken a number of measures to protect card transactions. Among these are the phasing out of the traditional magnetic stripe cards and adoption of the EMV (Europay, MasterCard and Visa International) compliant chip embedded cards, as far back as 2010, since EMV is widely considered as the global security standard for card transactions. Card transactions in Bahrain are now processed securely, using card information stored in chips. When a card is first inserted in to the acquirer's POS at a sales counter, the card transaction is completed after the necessary approval or denial. The customer immediately receives a transaction advice via SMS message, for both, local as well as international card transactions. Accordingly, a card transaction does not require swiping the magnetic stripe again on the shopkeeper's own POS or cash register.
Merchants have been "double swiping" as a practice over the years, to collect card payment details and cardholders' personal data for internal accounting and/or marketing purposes. However, as this practice of swiping at a shopkeeper’s POS or cash register for the second time provides access to all payment card data, including sensitive information such as security code and personal data encoded on the magnetic stripe, it can effectively lead to card data compromise. Capturing or storing such sensitive card information in a shopkeeper’s computer system, has the potential risk of unintentionally exposing such information to malpractices and card frauds. Furthermore, it can undermine the efforts taken so far to enhance the security of card transactions by moving from magnetic stripes to EMV chip cards. Hence, there is a serious need to stop this unsecure practice of "double swiping" and thereby protect cardholder data against possible theft and to ensure public confidence in card transactions.
Source:The Central Bank Of Bahrain
Friday, 17 March 2017
SBI
07:41
Qatar Airways offers up to 15% discounts on SBI cards
Qatar Airways offers up to 15% discounts on SBI cards
State Bank of India and Qatar Airways today entered into a partnership to offer the bank's corporate and retail cardholders up to 15 per cent discount on business class tickets and up to 10 per cent discount on economy fares to the US, Europe and Africa.
The offer is on both debit and credit cards and is valid for bookings done on or before April 7 for travel until September 30, the national carrier of Qatar said in a statement.
Naveen Chawla, Qatar Airways senior manager for the Subcontinent said this partnership provides them a platform to leverage SBI's massive corporate customer base.
Qatar Airways, which had last week said was planning to set up a domestic airline here, was set up 20 years ago and has a fleet of 195 aircraft flying to 150 international destinations across six continents.
Source:Business Standard
Sunday, 15 January 2017
Mobile Payment
20:22
India ready for four times jump in digital payments: Nandan Nilekani
India ready for four times jump in digital payments: Nandan Nilekani
Nandan Nilekani, who is a part of the Niti Aayog panel on e-payments that is working with chief ministers to promote the use of digital payments systems across the country has said that India is ready for four times jump in digital payments.
In an interview to a newspaper, Nilekani said that the infrastructure needed to enable more than a billion people to transact digitally is already in place, but unlike the West, where card-based payments are more common, the Indian economy will digitalise through mobile-based payments that are faster and cheaper to roll out.
Now, it is a matter of increasing awareness and keeping transaction charges low, he added.
Source:DDINEWS
Saturday, 3 December 2016
wallet business
05:27
MODE OF PAYMENT SYSTEM WITHOUT CASH
MODE OF PAYMENT SYSTEM WITHOUT CASH
Are you one of the many lakhs of people in the country who have just received their monthly salaries, but don’t have the cash in hand to spend it? The good news is that you can move around with lakhs of rupees of purchasing power in your pocket – the only thing is, it won’t be cash. But, it will be as good, if not better. Credit cards, debit cards, meal cards all carry a certain purchase limit and can be used easily at many shopping centres and stores. With the Modi government demonetising old Rs 500 & Rs 1000 banknotes, more people are being compelled to move towards cashless transactions. So, how does one go cashless? Here are some options for you to consider:
1) Net banking: It allows you to use your banking services from any place across the country. All you need is an internet connection, a username and a password to log in to your net banking website – and voila – ou are ready to use net banking. With the help of net banking, you can check your account balance, statements, you can pay your credit cards bills, electricity bills, do a wi-fi recharge…you can even recharge a mobile or any prepaid connections. It allows you to do third party payment transfer. From net banking, you can also apply for a loan. Purchase of mutual funds, insurance can also be executed through net banking. It is a very secure mode of carrying out multiple transactions. It comes with a range of transaction options such as IMPS, NEFT, RTGS.
2) Credit Card: Suppose you went to a shop and purchased grocery for Rs 5000 and on an agreed future date of payment in good faith, you made the payment on that particular day. Extending the same logic, why should you carry cash when you can simply use a credit card which serves the same purpose? The credit card saves your time as there is no need to go to banks or ATMs. You only need to swipe your card through a machine which shopkeepers and grocery stores normally keep these days. On every purchase made through credit cards, you get reward points which again can be used for the purchase of other products.
There is a misconception about credit cards that you will have to pay hefty charges, but if you are paying your bills within the time frame (due date) then there’s no credit involved. Credit is the grace period given by the banks for paying up the bill. You normally get a credit limit based on your income level, but that also depends on certain factors such as your past credit score, stable job, liabilities against any loan taken and various other payment dues. Some merchant outlets may charge up to 2.5% extra if credit card is used, so do watch out for that.
3) Debit Cards: They are just like credit cards, without the ‘credit’ element. Whenever you are in need of money, this card will provide you cash 24×7 through any ATM machine. There is no need to worry about bank timings, stand in queues for withdrawing cash – leaving out special circumstances like the one we are seeing right now. These are bank account-linked ATM cards, that are mainly used for withdrawing cash. As soon as the cash is taken out from an ATM machine, by swiping your card, the amount gets deducted from your bank account. An instant message is sent to your registered mobile phone providing you the details of cash withdrawal. These are widely accepted cards. Debit cards can be used for online transactions and at merchant outlets.
4) Gift/Forex Cards: These are prepaid cards which have certain cash limit assigned to them. These are readily accepted cards and can be used at any shop and can also be used for online purchase of products. Most of these cards are reloadable but they are reloaded only when the amount is either consumed or gets expired. You can request for this prepaid card through your net banking by going into the card section and selecting the option of ‘request for prepaid cards’ and with few verifications, you will get your card at your doorstep.
5) Digital Wallets: Instead of keeping money in your pocket, purse or physical wallet, you can keep money in e-wallets. These e-wallets are similar to your physical wallets which you keep in your pocket. It is a mobile based application which can be downloaded from any app store and can be accessed through your mobile phone. Transaction or transfer of funds through these wallets can be done across the country between person to person (usage of e-wallet app should be same between the end users). The only thing you need to do is to reload your wallet eacy time by transferring money into it through your bank account. These wallets are highly encrypted, so, there is no need to worry about security. Currently, e-wallets are offered by PayTm, Mobikwik, Freecharge, Oxigen, Reliance Money, etc. Even banks like SBI, HDFC Bank, AXIS, ICICI Bank, etc. have launched their e-wallets app viz a viz Buddy, Payzapp, Lime, Pocket respectively.
6) UPI (Unified Payment Interface): Simply put, it enables you to transfer money from one bank account to another. It is an infrastructure provided by NPCI’s (National payment Corporation of India) to all the public, private & cooperative banks where they can build their own interface and help the common man easily make micropayments with a maximum cap of Rs 1 lakh through various modes like virtual address (a single identifier code), account no with IFSC code, mobile number or adhar number. It will ease the e-commerce payment gateway where we do not have to share account number or any sensitive information between person to person. Moreover, UPI works 24×7 on real-time fund transfer system.
7) E- Coupons: These electronic coupons are offered by various online mega stores. They are very helpful in taking discounts on purchase done through online shopping. We only need to enter the e-code and get the discount automatically. They do not require any printing or clipping. They carry unique identification code which can be accessed through the internet at particular sites. Some of the coupons which are available online are groupons, nearby coupons, shopping site coupons, etc.
8) Physical coupons: These are paper coupons which come in small denominations of Rs 10 to Rs 50 with a validity of 6 months to 18 months. These are used by corporates to reward their employees. The best use of these coupons can be done in buying meals from places such as Pizza Hut, Dominoes, KFC, Big Bazaar, etc. Out of many, two big giants that are providing these coupons are Sodexo and Ticket Restaurants.
9) AEPS (Aadhaar Enabled Payment System): Going ahead, you can use Aadhaar cards as a debit card in various merchant stores. These cards have been already linked to your bank accounts. You will be provided with a finger scanner at the merchant’s store to do your payments. Aadhaar-cum debit cards will allow you to do micro-payments for not more than Rs 4000. However, there are several questions like which bank account will be taken into consideration for making payments.
10) Med Health Cards: These are discount cards specially designed to avail benefit from the healthcare sector. These cards provide various health care savings programs. These cards provide free OPD consultation service. You can use this card and get a health check up done.
Source:The Financial Express
Thursday, 3 November 2016
PAN NUMBER
08:06
Card Protection Plan: Should you have one?
Card Protection Plan: Should you have one?
It is human nature to stuff all cards- be it debit or credit, driving license or PAN -in a wallet which is always carried around. And when such a wallet is lost, it's a nightmare. However, the turnout wouldn't be so bad if one has subscribed to the card protection plans (CPP) offered by banks.
It is human nature to stuff all the cards - be it be debit or credit cards, driving license or PAN - in a wallet which one carries around. And when such a wallet is found to be lost, it's the procedural call that needs to be followed which proves to be a bigger nightmare. However, the turnout wouldn't be so bad if one has subscribed to the card protection plans (CPP) offered by banks.
What is CPP?
Simply put, it is a comprehensive card protection service in case of any loss, theft, fraud and other related emergencies. Apart from credit and debit cards, banks have extended this service to safeguard the details of other important documents like PAN card, Aadhar card and several others essential documents. In short, this service is designed to come in handy in times of a crisis situation. Other than this, there are several other services provided to those who signup for this offering. However, all these plans come for a limited period of one year. Thereafter, it needs to be renewed every year as in the case of insurance. Currently, most of the banks offer upto three types of plan - Classic, Premium & Platinum.
Services Offered
Banks, both public and private sector players, are offering numerous services under CPP. The benefits are almost standardized across all the players in the industry. However, the cost associated varies from Rs 1,245 to Rs 3,000, depending on the type of plan opted for. The plans vary on the basis of the number of individuals included in the plan. Broadly, the number of plan varies between two and three with inclusion classified as individual, individual+spouse and individual+spouse+parents (a total of four members). Depending on the number of persons included, the pricing of the plan offered differs. Given below are the services available.
1) One call to block all cards In case there is a loss of card, all you need to do is call the dedicated toll free number and inform about the loss of card. From thereon, the bank would take the responsibility of calling the card issuer and getting it blocked.
2) Emergency travel & hotel assistance The facility available under this head varies from bank to bank. So be careful to read the fine print. Some bank restrict this services only within India while few other banks help avail this service even overseas.
While travelling within India or abroad, incase your wallet containing cards are lost, then CPP comes to your aid in settling hotel bills. Incase of case of travel tickets, the service ensures that you get a replacement ticket. The facilitation and cost aspect in terms of settling bills and making the necessary arrangement is taken care by the banks. But remember, there is a ceiling amount for each of these services.
3) Emergency cash advances When stranded with no cash, due to loss of cards, currency, CPP ensures emergency cash advance. Again, for most of the banks this facility is available only when travelling within India. The money advanced should be paid back mostly within 28 days.
4) Valuable Document Registration In this facility, the bank allows you to register all the required details of important documents like driving license, passport, insurance policy documents etc, that you want to be maintained safely. The data stored here is easily accessible as and when needed, at any time during the day. Along with this, banks allow mobile phone identifier (IMEI) registration service as well such that incase of loss of phone, you can easily access this number to register complaint.
5) Card replacement & Passport assistance service Apart from informing the banks and initiating blocking, incase of lost cards, individuals who opted for CPP service will be aided through the procedure of getting the lost card replaced. This service ensures that al the required paper work is formally completed as required with minimum hassle to the customer.
Incase of PAN card, CPP will take care of the procedural requirement inorder to get a new card issued, at no extra cost. When it comes to passport, if the loss is when travelling overseas, it is a given that the user will be left stranded due to lack of travel documents. In such situation, certain banks will aid the traveler to notify the required authorities and also help in the process of getting a new passport issued inorder to travel back home. Here too, it is necessary to read the fine print to understand the extent to which the bank comes into assistance. Most often, the differentiation comes to the basis of the plan option chosen.
6) Sim blocking incase of loss of phone In case of loss of mobile phone, CPP will take care of reaching out to the network provider and get the SIM blocked.
7) Fraud Protection As a part of the plan, the user is protected from fraudulent use of cards arising from theft or loss of card. The cover beings from upto 15 days prior to the loss report. The number of days aspect varies according to the bank. The instances of fraud covered mostly include PIN based frauds, phishing, skimming and counterfeiting. In case of SBI, fraud protection cover is for upto Rs 3 lakh per card.
Should you go for it?
Given that credit and debit card already comes with limited liability on lost cards, it makes sense to go for these protection plans for convenience sake. Here too, only if you are a person juggling over three cards from different providers. Having such a plan ensures that you do not have to call each and every bank and get it blocked, which itself at times turns out to be very tedious procedure.
The other add-ons benefits make sense if you are a frequent traveler. Critically speaking, some of the benefits such as emergency cash advances, passport assistance incase of loss, emergency travel and hotel assistances are all covered in travel insurance. However, there is a cost attached to each of these services and as a result, the premiums may be tad higher. When compared to this, CPP comes across as a cost effective measure, that too only for a frequent traveler.
The other notable benefit comes in instances of fraud, which is a notable plus. However, when it comes to claim settlement, which is a moment of truth for the customer, there is room for disappointment. Incase, if it found that the cause of fraudulent activity was a result of personal negligence, then there is fair chance of the claim being rejected.
Also, it is important to note that the services and their limits vary according to the plan chosen. Consequently, incase one opts for a basic plan; there may be instances when certain services, especially the ones available overseas, may not be offered. In a nutshell, go for it if you are a card junkie and a frequent traveler.
Source:Business Today
Monday, 24 October 2016
State Bank of India
08:44
State Bank Of India advises customers to use own ATMs
State Bank Of India advises customers to use own ATMs
NK Bank, Kolkata, Oct 21 : Following a cyber security breach in the country's banking system, India's largest bank, the State Bank of India (SBI), has advised customers to use its own automatic teller machines (ATMs) for safe transactions and is looking to replace within ten days around six lakh debit cards which were blocked by it as a preventive measure, a senior SBI official said on Friday."We have set an internal target of seven to ten days for issuing the new debit cards to the customers whose cards have been blocked," said SBI Chief General Manager (Kolkata Circle) Partha Pratim Sengupta.
"We advise our customers to use SBI ATMs only at the moment for safe transactions," he said.
The lender on Wednesday said card network companies NPCI, Mastercard and Visa had informed various banks about a potential risk to some cards owing to a data breach.
"Accordingly, SBI has taken precautionary measures and blocked cards of certain customers identified by the networks. This is a proactive measure to protect our customers from any potential fraud once we came to know of some data breach outside our Bank," the bank said in a statement, adding that it was in the process of issuing new cards.
The malware-related security breach was reportedly detected in the non-SBI ATM network, following which the public sector lender blocked around six lakh debit cards.
An estimated 30,00,000-plus debit cards issued by various public or private banks are said to have been exposed to a potential risk of data breach.
The bank remains bullish in achieving a high growth in retail lending in Kolkata Circle during this festive season (October to December). "Our retail loan target during the festive season is Rs 1,000 crore. Last year the loan amount was around Rs 700 crore," Sengupta said.
The bank has been offering lower interest rates and zero processing fees on some of its retail products -- home loans, car loans, personal loans and education loans -- under its special financing scheme 'Hope Loans' during the festive season.
"For every loan sanctioned during this period, the bank will contribute a sum to selected NGOs working in the field of education, health, environment and shelter which will help a disadvantaged person's dreams come true," a statement said.
Sengupta said the bank has yet to decide what percentage of the loan amount would be donated to the NGOs.
Source:NewKerala
security
08:26
Debit card data theft: Who broke into your bank account?
Debit card data theft: Who broke into your bank account?
With cyber criminals becoming savvier by the day, learning how to safeguard yourself is imperative
The data breach that has led to an estimated 3.2 million debit cards getting compromised is only a small manifestation of a larger malaise called cyber crime. The breach occurred due to an introduction of malware in the network of a third-party payment processor.
Living in a digital world, we need to be aware of different types of cyber frauds and take steps to safeguard our financial well-being.
Password theft: Today, people have apps on their mobiles for almost everything - buying vegetables or furniture, booking a taxi, stock trading or anything else. Given the large number of apps, many people keep the same password and e-mail id for convenience - a wrong move. "The level of security at all online websites is not uniformly good. While Google's site will be difficult to hack into, an online retail start-up may not have the same level of security. Stealing of passwords usually happens from websites that have a lower level of security," says Shomiron Das Gupta of NetMonastery, a threat management provider.
Most use the same password at numerous websites. After hacking one weakly protected site, the hacker will have your user name, password and, in most cases, your email ID. He will then enter the other websites and misuse these. He could even send out mails from your email account and receive new passwords for other sites, thus blocking you out.
Saturday, 22 October 2016
PIN
18:42
Debit card data breach: How exactly does an ATM work?
Debit card data breach: How exactly does an ATM work?
You probably have walked into a lot of ATMs and transacted on one hundreds of times. But have you ever wondered how exactly does the ATM machine work.
Automated Teller Machine or ATM is a data terminal or rather a digital interface with two input and four output devices. Like any other data terminal, the ATM has to connect to, and communicate through, a host processor.
The host processor is similar to an Internet service provider (ISP) and it is the gateway through which all the various ATM networks become available to the cardholder or in other words (the person wanting the cash). Nearly 99% of ATMs in India communicate through leased lines -- which is a high speed network. Others work on dial-up systems which are slow and are meant for low traffic areas.But before we get into all the technical aspects, one needs to understand who handles the ATM or how is maintained. Any bank that wants an ATM installed contacts an ATM-maker like NCR or Diebold Nixdorf who provides the machine and the software for the bank at its preferred location.
After the ATM is installed, the bank needs to connect it to its servers and allow it to connect to other bank servers to help a consumer get cash.
Here comes in companies like FSS, CMS and Hitachi Payment Services who provide the ‘switch’ -- a technical term for a payment transfer engine that allows the ATM software to connect to interbank networks and in turn bank servers so that it can relay information and cash as and when it is necessary. But most of the switches are placed in remote locations and in other cases bank themselves maintain the interconnection network.
For example, a branch which has an ATM is more prone to managing its own switch
Read more: Banks need to raise firewalls to protect debit cards
But what is an interbank network? An interbank network, also known as an ATM consortium or ATM network, is a computer network that enables ATM cards issued by a financial institution that is a member of that particular network to be used to perform ATM transactions through teller machines that belong to another member of the network.
While Visa, Mastercard/Maestro or Rupay are card service providers, Cirrus, Pulse, Bancs are examples of interbank networks present in the country. This simply means that these card service providers connect to services (that it subscribes or owns) such as Cirrus or Pulse when a transaction is being processed by a user in an ATM.
However, the functions which may be performed at the network ATM vary. For example, special services, such as the purchase of mobile phone airtime, may be available to own-bank but not to network ATM cardholders. Furthermore, the network ATM owner may charge a fee for use of network cards (in addition to any fees imposed by the own-bank).
Source:Hindustan Times
Tuesday, 18 October 2016
State Bank of India
20:34
State Bank of India blocks ATM cards over security reasons
State Bank of India blocks ATM cards over security reasons
In view of possible security issues, the State Bank of India (SBI) has blocked some of the ATM debit cards while urging them to contact the bank authorities for changing their pin numbers.
The bank had reportedly asked its customers to change their secret pin number. Those who had not changed the number were asked to contact the bank branch when they tried to withdraw money on Friday and Saturday.
The bank said it blocked the cards which are regularly used at specific ATMs prone to fraudulent activities. The customers whose ATM cards are blocked now have to avail a new card from the bank. The new card will be distributed free, the bank said.
Currently these customers posses magnetic cards and the bank intends to replace it with new chip cards. This is to curb recurrence of the Thiruvananthapuram-style high-tech ATM robbery, the bank said.
Source:BankingUpdates
Wednesday, 27 April 2016
State Bank of India
08:06
‘SBI Quick’ new facility to control debit card frauds
‘SBI Quick’ new facility to control debit card frauds
Considering the rising number of debit card frauds, State Bank of India (SBI) has launched a facility under 'SBI Quick: SMS and Missed Call Banking' service whereby the customer can choose to activate or deactivate their cards using various platforms, like ATM, and Point of Sale (POS).
The user can use platforms like ATM, Point of Sale (POS), e-commerce websites, international usage and domestic usage for activation and deactivation of debit card. This can be done by just sending an SMS, SBI said in a statement on Monday.
"While the facility of restricting debit card usage is available on the internet banking platform of the bank, we had to find a way to provide our customers with a simple but effective solution to curb this menace," said SBI DMD N K Chari.
SBI Quick, a mobile APP, provides a range of services and works on the condition that the SMS/missed call should come from the mobile number registered with the bank.
Source:BankingUpdates
Tuesday, 12 April 2016
volume of transactions
17:09
Alpha Bank Enter MasterCard contactless
Alpha Bank Enter MasterCard contactless
Easy, fast and innovative everyday transactions!
With Alpha Bank Enter MasterCard contactless and Alpha Bank Enter Visa contactless , you have access to your account anytime, and everywhere. There is no reason to worry about cash or exchange anymore, since you have access to ATMs anywhere in the world. Free of annual fee and interest, Alpha Bank Enter MasterCard contactless and Alpha Bank Enter Visa contactless are created to facilitate your everyday transactions.In addition, the embedded contactless technology enables you to conduct your everyday payments with unique convenience, in just a few seconds.
Alpha Bank Enter MasterCard contactless and Alpha Bank Enter Visa contactless are also equipped with Chip & PIN technology and offer maximum security in your transactions either in Greece or abroad, with direct debit to your bank account in Euro.
All over the world, Alpha Bank Enter MasterCard contactless and Alpha Bank Enter Visa contactless make your transactions easier at any time!
More advantages:
Contactless technology enables you to experience easy, fast and secure transactions at card acceptance terminals with a contactless reader. Inserting your card into the card acceptance terminal (POS) is not required and your transactions are completed in a few seconds.
For payments up to 25 Euros, transactions are completed within seconds, without entering your Personal Identification Number (PIN). Payments above 25 Euros can also be conducted with the use of contactless technology, by entering your PIN each time it is requested and always without the need to sign the purchase receipt.
- Link of your card to Alpha Bank accounts (up to 5) for ATM transactions.
- Option of your daily purchase and cash withdrawals limit.
- Purchases at millions of merchants in Greece and abroad, with direct debit to your bank account.
- Checking of your bank accounts’ balance anytime at all Alpha Bank and DIAS network ATMs.
- Cash withdrawals at any Alpha Bank and DIAS network ATMs in Greece.
- Detailed quarterly statement with all your card transactions or electronic monthly report through e- statements.
The only limit to your purchases is the balance of your linked bank account.
Alpha Bank Enter MasterCard contactless and Alpha Bank Enter Visa contactless makes your every day transactions easier.
...and of course of the highest security!
- Chip & PIN technology for maximum security in all your transactions in Greece and abroad.
- Delivery of a non activated card which can be activated at any of Alpha Bank΄s ATM.
- As soon as you fill in the application form for your new card, you receive your personal identification number (PIN).
- Option of your daily transaction limit, for purchases or cash withdrawals.
- Card Loss Centre of Alpha Bank operates 24 hours a day.
Monday, 4 April 2016
debit cards
07:30
ATM AND DEBIT CARD -CHARGES -KARUR VYSYA BANK
ATM AND DEBIT CARD -CHARGES -KARUR VYSYA BANK
Debit Card
|
Domestic Debit Card
|
Charges
|
|
Issued through
Welcome Kit
|
Free
|
|
Personalised Debit
card
|
Rs. 100/-
|
|
Personalised Add on
cards
|
Rs. 100/-
|
|
Duplicate
Personalised cards
|
Rs. 100/-
|
|
Annual Maintenance
Fee (other than KVB prestige account)
|
Rs.125/-
|
|
Annual Maintenance
|
KVB Prestige a/cs -
Free
|
|
EMV
Chip based International Debit Cards
|
|
|
Personalised Debit
card
|
Rs. 200/-
|
|
Personalised Add on
cards
|
Rs. 200/-
|
|
Duplicate
personalised cards
|
Rs. 200/-
|
|
Annual Maintenance
Fee
|
Rs. 175/-
|
|
|
|
|
Card renewal
|
Free:
In case there are no operations in the preceding 3 years – Rs. 100/- |
|
Duplicate Card
|
Rs. 100/-
If card is captured at other bank ATMs & a letter is received from the acquiring bank – Free |
|
Duplicate PIN
|
Free
|
|
Hotlisting
|
Free
|
ATM Transaction Charges
|
|
Charges
|
|
KVB ATMs
|
Free
|
|
Other Bank ATMs (
More than 3 transactions per month at Metro ATMs are chargeable)
|
5 Free transactions
per month (Financial + non financial).
For Metro ATMs: 3 free transactions/month out of the total 5 free transactions. Thereafter Rs. 20/- per txn. (inclusive of Service Tax)
Non-Financial
Transaction – Rs. 9.00 (inclusive of Service Tax)
|
|
In Visa/Master
outlets in India
|
Free
|
|
In Visa/Master
outlets outside India
International ATM transactions |
Financial txn. – Rs.
125/-
Non-financial txn – Rs. 25/- |
|
Fund Transfer
through ATM
|
Free
|
|
In POS.(other than
for fuel purchase)
|
Free
|
|
In POS for fuel
purchase
|
As levied by
merchant
|
Source:http://www.kvb.co.in/personal/tariff.html
Sunday, 3 April 2016
Stand up India scheme
21:35
Prime Minister to launch the “Stand up India scheme” on April 5th,2016
Prime Minister to launch the “Stand up India scheme” on April 5th,2016
Prime Minister will be launching the “Stand up India scheme” and a Web portal for the scheme on 05th April, 2016 at Sector 62, NOIDA. It will be attended by Governor, UP, Union Finance Minister, Union Minister for Culture and Tourism and Union Minister of State for Finance among others.
The “Stand up India Scheme” is being launched now to promote entrepreneurship among Scheduled Caste/Schedule Tribe and Women for loans in the range of Rs. 10 Lakhs to Rs. 100 Lakhs. The Scheme is expected to benefit large number of such entrepreneurs, as it is intended to facilitate at least two such projects per bank branch (Scheduled Commercial Bank) on an average one for each category of entrepreneur.
The broad features of the scheme are as under:-
I.Composite loan between Rs. 10 lakh and upto Rs.100 lakh, inclusive of working capital component for setting up any new enterprise.
II.Debit Card (RuPay) for drawal of working capital.
III.Credit history of borrower to be developed.
IV.Refinance window through Small Industries Development Bank of India (SIDBI) with an initial amount of Rs.10,000 crore.
V.Creation of a corpus of Rs. 5,000 crore for credit guarantee through NCGTC.
VI.Handholding support for borrowers with comprehensive support for pre loan training needs, facilitating loan, factoring, marketing etc.
VII.Web Portal for online registration and support services.
The overall intent of the proposal is to leverage the institutional credit structure to reach out to these underserved sectors of the population by facilitating bank loans in the non-farm sector set up by such SC, ST and Women borrowers. The initiative will also develop synergies with ongoing schemes of other Departments.
The process would be led by SIDBI with involvement of Dalit Indian Chamber of Commerce and Industry (DICCI) and various sector – specific institutions all over the country. The offices of SIDBI and National Bank for Agriculture and Rural Development (NABARD) shall be designated Stand Up Connect Centres (SUCC).
The launch event would involve distribution of 5100 E-Rickshaws by Bhartiya Micro Credit (BMC) under the Pradhan Mantri Mudra Yojna scheme. In addition the recipients will also be covered under Pradhan Matri Jan Dhan Yojna, Pradhan Mantri Suraksha Yojana, Pradhan Mantri Jivan Jyoti Yojana, Atal Pension Yojana schemes and other eight significant Prime Minister schemes.
“Bhartiya Micro Credit (BMC) aims to spread awareness of the financial inclusion and social security schemes and proposes to take the benefits to poor and destitute people in the country. The idea is to facilitate the up gradation of pedal rickshaw pullers into E Rickshaw owners and help create threefold increment in their income. Credit for all these facilities are being provided under Mudra Scheme. The progression to E rickshaw from pedal rickshaw will also help contribute towards achieving the goals of Swachh Bharat Abhiyan. Sach hua Sapna, Rickshaw hua apna!, shared Vijay Pandey, Managing Director, Bhartiya Micro Credit.
As the first step of this process the pedal rickshaw pullers are provided training post which certificate is provided by NSDC. 150 women drivers have been trained. In addition the customers will also be able to book E Rickshaw through Ola mobile apps and make online payment via Freecharge, which will be integrated under the Digital India initiative.
Under the scheme, charging and service station will also be set up, which will help the growth of emergence of small and micro enterprises along with creating many opportunities for entrepreneurs. This organically integrates Bhartiya Micro Credit (BMC) E-Rickshaws program into Prime Minister Shri Narendra Modi flagship ‘Stand Up India’ initiative.
The Prime Minister on 15th August 2014 launched the Pradhan Mantri Jan Dhan Yojana (PMJDY) for “Banking the Unbanked”. As is well known, it met with resounding success as more than 21.3 crore accounts have been opened. Further, Pradhan Mantri MUDRA Yojana (PMMY) was launched by the PM for “Funding the Unfunded” by facilitating loans upto Rs. 10 lakh on 8th April, 2015. As on date, over Rs. 1.22 Lakh crore have been disbursed wherein over 57.75 lakh Scheduled Castes, 15.15 lakh Scheduled Tribes and 2.52 crore women entrepreneurs have been benefited under this scheme. To intensify this inclusive growth, the PM in his address to the nation on 15th Aug, 2015 had announced the “Start up India Stand up India” initiative.
Source:PIBNEWS
