ICICI Bank introduced cash withdrawal facility for customers for withdrawing up to Rs 1000 at point of sale (PoS) terminals, with the option to buy or not buy at merchant outlets.
ICICI is the first bank to offer this facility in the country. At present, cash withdrawal using a plastic card is available only at ATMs.
ICICI is the first bank to offer this facility in the country. At present, cash withdrawal using a plastic card is available only at ATMs.
The new facility will be available for all ICICI Bank debit cards holders who can withdraw up to Rs 1,000 a day as per Reserve Bank guidelines, with or without associated purchase transactions at PoS terminals.
The ability to offer cash is likely to be attractive to merchants, as it means they can reduce the risk and cost associated with managing cash.
ICICI Bank has consolidated assets of over USD 115 billion as of end September. It has subsidiaries in the insurance space, securities brokerage, mutual funds and private equity. The bank is present in 18 countries.
+1.jpg)
0 comments
Post a Comment