Indepay Networks has introduced its Prepaid Debit Cards, targeted at the underbanked and unbanked urban dweller. As it is believed to be first of its kind, Indepay Prepaid Debit Card will extend the benefits of banking to wider audience of consumers providing them with a safe and secure solution to transact online as well as be able to deposit and transfer cash to their friends and family.
Towards this end, Indepay’s Prepaid Debit Card will allow users to load money through direct deposits at banks, ATMs and through online funds transfer from existing bank accounts, as well as by making deposits at any Indepay merchant or partner. The funds deposited can then be utilized to purchase goods and services through Business Correspondents at retail points of sale as well as be withdrawn as cash from Indepay’s merchant and partner network enabled as Business Correspondent, cash advances at PoS or through ATMs.
Rajib Saha, President & CEO, Indepay Networks said, “With over 60% Indians not having access to banking and banking related credit facilities, the product offering in the form of prepaid debit cards is creating a viable ecosystem of transactions which is easy and convenient. Consumers can use their cards for online shopping, mobile based transactions, and at all existing PoS devices and even at ATMs. The solution directly caters to the growing need for electronic payment transactions where underbanked and unbanked are unable to meet KYC norms. Indepay believes that the earning member will load the cards for dependent family members leading such cardholders to use the cards at Indepay outlets and online merchants.”
Suresh Rajpal, Founding Director, Indepay Networks said, “I firmly believe that user experience is key to the success of any evolving product for the masses in the marketplace and Indepay ensures that consumers get the best experience when using an Indepay card. Our product allows the enrolled customer, to access his money anytime, anywhere, for any spends – through existing ATMs, PoS network as well as for the transactions they make through their mobile phones.”
