Axis Bank, India’s third largest private sector bank, has announced the launch of the display variant debit card for its NRE (non-resident expatriate) customers.

The EMV chip embedded, interactive debit card comes with a display screen and touch-sensitive button that enables customers to generate the OTP on the card itself. This OTP, in conjunction with the user id and password, allows the customer to seamlessly transact on internet banking without having to wait for OTP delivery via SMS or email.

This does away with the hassles due to OTP not being delivered owing to telecom network issues or mobile number updation. Axis Bank will be the first Indian bank to launch this new technology and has added additional features and benefits to create a unique offering in the market.

The new Display Debit card comes with international ATM access charges waived, providing unlimited free international ATM usage. It also offers customers lounge access, loyalty points on all transactions and air accident insurance and personal accident insurance of Rs 25 lakhs ($37,480) and 5 lakhs respectively.

Rajiv Anand, group executive & head Retail Banking at Axis Bank said: “We are proud to be the first Indian bank to introduce Display Debit cards for our customers. The launch of the new card further reinforces our commitment to improving customer experience by deploying cutting-edge technology solutions that provide both security and convenience.” – TradeArabia News Service