Central Bank of India to offer new payment solutions

Central Bank of India, Rev India and MasterCard have partnered to collaboratively develop and market new payment solutions.

The partners plan to introduce a series of new payment products designed to reach even more Indians, starting with the Central Bank of India MasterCard Gift Card and the Rev MasterCard Virtual Card, both issued by the Central Bank of India.

The Central Bank of India MasterCard Gift Card offers gift-givers a gift option that recipients can redeem as they wish to make purchases anywhere MasterCard is accepted in India.

The Rev MasterCard Virtual Card is a pre-paid MasterCard number that reportedly gives shoppers a secure way to buy online, over the phone or by mail order wherever MasterCard is accepted without requiring a bank account or credit card.

S Sridhar, chairman and managing director of the Central Bank of India, said: "The partnership will enable Central Bank of India to regain our hold among retail customers. And, through a range of pre-paid card and mobile payment products, deliver on the bank's mandate for financial inclusion."

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