LIC CSL launches pay as you go present card in collaboration with IDBI Financial institution on RuPay platform

With the large acceptability of RuPay, the Shagun Present Card can be utilized at tens of millions of service provider shops and e-commerce web sites in India to diversify spending choices on the cardboard.

LIC Playing cards Companies (LIC CSL) has launched a contactless pay as you go present card, ‘Shagun’, in collaboration with IDBI Financial institution on RuPay platform. Its purpose is to broaden the present card market with an intent to advertise cashless methods of gifting, thereby presenting a variety of end-use selections.

Eyeing a future foray into the market of e-gift playing cards, Shagun will likely be accessible to LIC and its subsidiaries/associates for official use within the preliminary section. The cardboard will likely be used to facilitate awards and particular rewards throughout official conferences/ features.

The Shagun Present Card affords customisation within the type of versatile loading of any quantity starting from Rs 500 to Rs 10,000. With this card, a buyer can carry out a number of transactions throughout the validity of three years. With the large acceptability of RuPay, the Shagun Present Card can be utilized at tens of millions of service provider shops and e-commerce web sites in India to diversify spending choices on the cardboard.

The cardboard will present customers the liberty to make purchases at varied service provider areas, together with departmental shops, petrol pumps, eating places, jewelry and attire shops. They will additionally store on-line, pay utility payments, guide tickets for air, rail,bus by way of varied cellular wallets and e-commerce portals or apps utilizing this card.

The cardboard’s contactless (faucet & go) function is aimed toward remodeling the transaction expertise for customers. Customers have to faucet their Shagun Present Card on the contactless level of sale (PoS) terminal and make funds with out having to enter the PIN for purchases of as much as Rs 5,000. The cardboard comes pre-wrapped, prepared for gifting, and in addition has the supply to incorporate personalised messages for the recipient. It will get auto-linked to a feature-rich cellular app, ‘m-passbook’, giving real-time entry to transaction historical past, stability, and many others. Additionally, a devoted in-house buyer assist crew will likely be accessible 24×7 for any buyer grievance.

LIC Playing cards Companies spokesperson stated, “We’re delighted to accomplice with IDBI Financial institution and RuPay for the launch of LIC Present Card powered by IDBI Financial institution on RuPay platform. We consider that gifting is likely one of the largest social interactions and social occasions in our society. The variety of events for gifting is not only confined to festivals but additionally consists of a number of private moments and we need to make these moments considerate, heat and full of private consideration by launching LIC Present Card – ‘Shagun’. We purpose to reinforce the worth of digital transactions by offering quite a lot of advantages/playing cards thereby saving time and value of transactions for each present card purchaser and recipient. LIC CSL have a imaginative and prescient to be the highest model in playing cards and digital funds, catering to all segments with geographical unfold throughout the nation.”

Rakesh Sharma, MD & CEO, IDBI Financial institution stated, “In continuum with our on-going enterprise synergies with LIC, we’re glad to even have NPCI and LIC Playing cards Companies Ltd as companions on-boarded for this initiative. This product has been curated retaining in thoughts the distinct privileges for the cardholders in addition to the comfort of the contactless fee function.”

Dilip Asbe, MD & CEO, NPCI stated, “We’re thrilled to accomplice with LIC CSL and IDBI Financial institution for the launch of Shagun Present Card on RuPay community. We consider that this card will present a pleasant procuring expertise to cardholders and can act as a complete gifting possibility with the utmost comfort owing to the huge and intensive community of RuPay. At NPCI, it’s our fixed endeavour to deliver thrilling improvements to corroborate adoption of digital transactions. We sit up for continued collaboration with LIC CSL and IDBI Financial institution to take this product to the lots in coming months and additional strengthen our buyer base.”

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