India’s largest private sector bank, ICICI, has launched the
ICICI Bank American Express Prepaid Travel Card.
According to ICICI, the card is aimed at both business and
leisure travelers; and will offer benefits including travel
insurance, emergency travel and medical assistance.
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ICICI executive director, Rajiv Sabharwal, said that “in
association with American Express [Amex] we will be able to offer
customers not only a seamless payment experience when they travel
abroad, but also additional benefits, such as Selects offers [Amex
loyalty program], which are not normally included on other prepaid
cards in India.”
A report last month from VRL, titled Debit and
Prepaid Cards Market in India (see RBI 640), highlighted
“supernormal growth characteristics for the foreseeable future in
the prepaid cards sector” in India.
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