BoR ties up with Visa Int'l to launch credit cards

Bank of Rajasthan (BoR) has joined hands with Visa International to launch international credit card operation.

At the launch of the operation, Pravin Kumar Tayal, chairman, Bank of Rajasthan, said, "As consumer spending becomes an increasingly important driver of economic growth, credit cards will have an ever-increasing role to play both for the consumers as an instrument of convenient credit and for the banks to offer a gamut of service through the Credit Card platform."

Bank of Rajasthan will offer three types of international credit cards - Silver Card, Gold Card and Platinum card.

Their features include hospitalisation expenses covered up to Rs 50,000, baggage insurance expenses up to Rs 30,000, purchase protection up to Rs 40,000 and 30 per cent credit limit against cash advance. It has also tied up with Electra Card Services (ECS) to provide complete back-end support for the bank's credit card business.

ECS, a fully owned subsidiary of Opus Software, will engage in acquisition, issuance, authorisation, transaction processing, bill production, statement generation and settlement and personalisation of credit cards on behalf of the bank. It will also offer transactions in multi-currency and on multi-lingual platforms.

The tie-up will facilitate real-time transaction through Visa gateway.