The lender claims that the automated card issuing is carried out online, which offers users to select any currency from a choice of three for their card.
The company informs the users for every transaction completed through automated SMS notification, thus minimizes the risk of fraud, the bank said.
The card holders can administer their personal profile, which assists them to manage their card, change limits, block/unblock the card, check transaction history, receive bank statements and, based on templates, make payments with this card for mobile services, the bank claimed.
According to the bank, virtual prepaid Visa cards can be issued in any Nevya Bank ATM by putting the money on the card in cash or by transferring it from an already existing Visa card from any bank.
Nevya Bank deputy chairman of the board said, "The technological foundation for the bank’s new product is the TranzAxis platform from Compass Plus that allowed us to meet all business requirements with necessary additional features, which significantly increases the appeal of the new service in the shortest period of time and without the vendor’s involvement."
