Mumbai, Jan. 1: Corporation Bank today launched Corp Convenience, its international debit card, in association with Visa International. Corp Convenience, based on the global Visa Electron, will be issued to the bank’s savings and current account holders, chairman and managing director K. Cherian Varghese said here today. The bank has a total customer base of over 5 million.
Corp Convenience cards can be used to pay for purchases at over 10 million merchant locations worldwide. Besides doing away with the need to carry cash, it will also enable cardholders to withdraw cash at all Corp Bank ATMs in the country and 8 lakh ATMs globally.
Varghese said the card “is like an online-e-purse and will be accepted in India and globally at a range of merchant outlets. Besides being a convenient alternative to cash payments, it is also an efficient cash management tool and is backed by the security features of a Visa Electron product”. Corp Convenience will be issued to all eligible account holders and will come with several add-ons like free cost liability, purchase protection cover, personal accident insurance of Rs 2.5 lakh on the primary card and Rs 1 lakh each on the add-on cards, a total insurance cover of Rs 4.5 lakh.