LIC Cards Services (LIC CSL) has launched a contactless prepaid gift card or RuPay Prepaid Gift Card, ‘Shagun’, in collaboration with IDBI Bank on RuPay platform. Its aim is to expand the gift card market with an intent to promote cashless ways of gifting, thereby presenting a wide range of end-use choices.

 

Shagun card, in the initial phase, will be available to LIC and its subsidiaries for official use. The card will be used to facilitate awards and special rewards during official conferences and functions. 

 

“We are delighted to partner with IDBI Bank and RuPay for the launch of LIC Gift Card powered by IDBI Bank on RuPay Platform. We believe that gifting is one of the biggest social interactions and social events in our society. We aim to enhance the value of digital transactions by providing a variety of benefits/cards thereby saving time and cost of transactions for both Gift Card buyer and recipient. LIC CSL has a vision to be the top Brand in Cards and Digital Payments, catering to all segments with geographical spread across the Country.” a spokesperson of LIC Cards Services Limited (LIC CSL) stated.

 

The Shagun gift card offers customisation in the form of flexible loading of any amount ranging from Rs 500 to Rs 10,000. With this card, the customer can perform multiple transactions within the validity of 3 years.

 

With the wide acceptability of RuPay, the Shagun gift card can be used at millions of merchant outlets and e-commerce websites in India to diversify spending options on the card. The card will provide users the freedom to make purchases at various merchant locations including departmental stores, petrol pumps, restaurants, jewellery stores, apparel stores, etc, the company statement added.

 

The card comes pre-wrapped, ready for gifting, and also has the provision to include personalised messages for the recipient. It gets auto-linked to a feature-rich mobile app ‘m-passbook’ giving real-time access to transaction history, card balance, etc. Also, a dedicated in-house customer support team will be available 24×7 for any customer grievances.

“In continuum with our on-going business synergies with LIC, we are glad to also have NPCI and LIC Cards Services Ltd as partners on-board for this initiative. This product has been curated keeping in mind the distinct privileges for the cardholders as well as the convenience of the contactless payment feature.” added Rakesh Sharma, MD & CEO, IDBI Bank.