In cooperation with IDBI Bank, LIC Cards Services Limited (LIC CSL) introduced the ‘Shagun’ contactless prepaid Gift Card on the RuPay platform on Tuesday (June 15, 2021). The goal of this card is to grow the Gift Card industry and promote cashless giving. For the time being, the Shagun card will only be accessible for official usage by LIC and its subsidiaries/associates. The card will be used to provide prizes and unique prizes during official conferences and gatherings, according to LIC CSL.
“We are happy to work with IDBI Bank and RuPay for the introduction of LIC Gift Card powered by IDBI Bank on RuPay Platform,” a LIC CSL spokesman said in a statement on the new card’s debut. Gifting, we feel, is one of our society’s most important social exchanges and activities. We aim to make these moments meaningful, pleasant, and full of personal attention by releasing the LIC Gift Card”, he adds.
Shagun Gift Card features and benefits
• The Shagun Gift Card allows for personalization by allowing for flexible loading of any value between Rs 500 and Rs 10,000.
• The consumer can make numerous purchases with this card within its three-year validity period.
• The Shagun Gift card may be used at millions of merchant outlets and e-commerce websites in India, allowing the card to be used in a variety of ways.
• Users will be able to make purchases at a variety of merchant locations, including department shops, gas stations, restaurants, jewelry stores, and clothing stores.
• Users may use this card to buy online, pay utility bills, and book airline, rail, and bus tickets, among other things, using numerous mobile wallets and E-commerce websites or Apps.
•The contactless function of the card, according to LIC CSL, is designed to improve the user’s transaction experience.
• For transactions up to Rs 5000, cardholders just need to tap their contactless Shagun Gift Card at a contactless Point of Sale (PoS) terminal and make contactless payments without having to input their PIN.
•The card comes pre-wrapped and ready to give, with the option to customize the message for the recipient.
• The Card is automatically linked to m-passbook, a feature-rich mobile app that provides real-time access to transaction history, card balance, and other information.
• “In continuation of our ongoing business synergies with LIC, we are pleased to have NPCI and LIC Cards Services Ltd as partners on-boarded for this initiative,” said Rakesh Sharma, MD & CEO, IDBI Bank. This product was created with the unique benefits for cardholders in mind, as well as the ease of the contactless payment feature.”
“We are pleased to cooperate with LIC CSL and IDBI Bank for the introduction of Shagun Gift Card on RuPay network,” said Dilip Asbe, MD and CEO of NPCI. We think that thanks to RuPay’s large and wide network, this card will give users with a wonderful purchasing experience as well as serve as a complete giving option with the highest convenience”, he adds.