Indian Bank Targets Young E-Commerce Shoppers with New Debit Card
Jan. 6, 2014
One of the largest banks in India has launched a debit card aimed at its youngest customers giving them the ability to pay at a half million merchants. Indian Overseas Bank, based in Chennai, on Friday announced its Connect Card—a Visa ATM/debit card it is offering to Indian consumers from ages 10 to 28. The bank said it has always provided debit cards for its customers, but it is taking advantage of the exploding popularity of e-commerce in the country to grow debit transactions.
The card is restricted to use at Indian merchants, both online and at physical points of sale.