SBI launches prepaid Pay-roll Cards

Ludhiana, Mar 22 (UNI) State Bank of India (SBI) today achieved another milestone in technology upgradation when it launched its Prepaid Payroll Cards and Gift Cards in Punjab.

A Krishna Kumar, General Manager, SBI delivered the first Payroll Card to Mr Rajiv Gupta, Director of M/s Venus Garments one of the Duke groups of units. Through this card corporates, government departments can disburse salary and perks to their employees without opening separte accounts for each employee.

The cardholder can withdraw his salary from any of SBI group ATM or VISA ATM without maintaining any banking account. This product is available in all core banking branches of SBI. The prepaid card can be issued for any amount.

SBI is using magnetic-strip based technology in this product.

The product is the first of its kind in India and is a major step forward in introducing electronic money.

In the recent past, SBI has started encouraging its customers to take advantage of banking products with cutting edge technology.

This is another product launched by the bank for the convenience of the customers.

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