The Mangalore-based private sector lender, Karnataka Bank, has launched four new products and inaugurated 10 new ATMs across the country. The new products are student prepaid cards, mobile banking (mobile payment solutions), online payment through debit card and moneyplant international debit card.
According to a release from the bank, the student prepaid card is a reloadable card that can be purchased in amounts ranging from Rs 1,000 to Rs 45,000. It can be used anywhere in the world where Visa cards are accepted.
The card can be purchased by parents who are the account holders of the bank and it can be used by the ward to meet the periodic requirements of funds for their academic purposes like tuition fees, hostel fees and other expenditure.
The card can be used at merchant locations with a daily limit of Rs 25,000 and daily cash withdrawal limit at ATMs of Rs 15,000.
Karnataka Bank has tied up with Paymate India Pvt Ltd for its m-commerce facility to extend the additional facility to its customers for making payment through their mobile for the goods purchased by them, payment of utility bills among others.
On registration for mobile payment solution, the customer will be enabled to make secured payments directly from their registered mobile phone, authorised by using their ATM PIN.
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The online payment through debit card enables payment for online transactions. The Money Plant International Gold Debit Card enables daily cash withdrawal limit of Rs 25,000 and a daily purchase limit of Rs 100,000.
With the opening of 10 new ATMs, the total ATM strength of the bank has gone up to 214.