Tiêu đề LG-DBAC INSB 2024 M6.pdf ✅

Nitte Education International Post Graduate Diploma (Banking & Finance) Digital Banking & Alternate Channels Module 6
P a g e | 1 Post Graduate Diploma (Banking & Finance) Introduction This module on Digital Banking & Alternate Channels carries three credits and has eight units. It is very important for the present-day banker to be aware of technological advancements in the banking industry and be comfortable with the use of digital banking. This module deals extensively with Digital banking and Alternate Channels. The module has been designed keeping in mind learner requirements and from the learners’ perspective. This reading material is part of the courseware provided by Nitte Education International Private Limited (hereinafter referred to as “NEIPL”) to students of the PGD(B&F) course. The proprietary rights to the material rest with “NEIPL”. No part of the reading material may be reproduced, photocopied or transmitted in any form without prior written permission of “NEIPL”. All efforts have been made to ensure the correctness of information in the reading material and to provide the latest information. However, there are bound to be changes in the industry, and NEIPL reserves the right to change and update information from time to time. NEIPL is not liable for any loss or damage arising from the use of the information provided. Reference: NEI/PGD(B&F)/2024/DBAC/INSB2.1V1
P a g e | 2 Post Graduate Diploma (Banking & Finance) Module 6 This module deals with: Cards & E-Wallets • Cards & E-Wallets – Types, features, issuing procedure, customer education and cost- benefit analysis. • Tokenization of Cards – Advantages. • Fastag. Introduction Debit and credit cards are becoming popular at a rapid rate and their market is huge. The debit card market is expanding and the companies are trying to fulfil the growing demand. For the purpose, different types of debit cards with various features are offered by the banks. The use of debit cards is growing every day because these cards are providing a number of attractive services to the cardholders. Debit cards and e-wallets eliminate the need to carry cash to make purchases. Unlike credit cards, they do not allow the user to go into debt, except perhaps for small negative balances that might be incurred if the account holder has signed up for overdraft coverage. Debit Card Debit cards are plastic cards that provide a cardholder electronic access to his/ her bank account. It can be used to withdraw funds or to make purchases. Since a debit card is essentially linked to an account (saving/ current), it is also known as a Checking Card. Balance in the account is a must for the use of debit cards. Debit cards can function in two ways- 1. Like an ATM card for immediate cash withdrawals. 2. Like a cheque when buying an item. Debit card - Features 1. Debit card acts as an alternative to a traditional cheque payment. 2. Helps to budget one’s expenses and do a responsible spending within account limits. 3. Holder uses his own money and not any borrowed (loaned) money. 4. Accepted internationally, by e-commerce websites, and almost everywhere by merchants who display the logo of payment processing companies like VISA, Master Card, American Express, etc. This ensures making successful payments anywhere in the world with ease. 5. Offers optimum levels of security. 6. Enhances the banking experience of a cardholder.
P a g e | 3 Post Graduate Diploma (Banking & Finance) Debit cards - Types There are two types of debit card categories prevalent in India. These are the virtual debit cards and the physical debit cards. A wide range of debit card products are offered under these categories. Some common debit cards are- 1. Visa Gift Cards: Visa Gift Card is a prepaid card. Like a credit/ debit card, the cardholder can use it to make purchases at any merchants where Visa Debit Cards are accepted. It is a “non-reloadable” card and the same can be used till balance is available in that card. Every time a purchase is made, that much amount is automatically deducted from the card balance. Though Visa Gift Cards typically have PINs, these cards cannot be used to withdraw cash at an ATM. The PIN will be used while making a transaction either online or through POS. Examples of IDBI Visa Cards: • VISA Signature PayWave Debit Card • VISA Platinum PayWave Debit Card • International VISA Gold Debit Card • VISA Classic PayWave Debit Card • VISA Women's PayWave Debit Card • Visa Being Me PayWave Debit Card • VISA Kids PayWave Debit Card 2. Payroll Debit Cards: A payroll debit card is a prepaid card onto which an employer loads an employee’s wages or salary each pay day. Payroll cards are an alternative to direct deposit or paper cheque. The Payroll Debit Card can be used in the same manner as a traditional debit card. It can be used for cash withdrawal, online payment and for POS transactions. The employee need not have a bank account to use this card. Example of IDBI Payroll Debit Cards: • Imperial Salary Account • Indian Army Salary Account • Indian Navy Salary Account • Pride Salary Account • Prime Salary Account • Crown Salary Account • Star Salary Account 3. Business Debit Cards: This card has been specially designed keeping in mind the business requirements of the commercial segment of customers. The card can be used to make payments online, pay business utility bills and to purchase business essentials over the counter without the need for petty cash, withdraw cash at ATMs and deposit cash at Cash Deposit Machines. It helps the business customers to track and monitor business expenses, offering customers greater control over expenses. Examples of Business Debit Cards: • RuPay Platinum Debit Card • Mastercard Gold Debit Card 4. Student Cards: Student card is also called a campus card. In some countries, it is an identification document certifying status of a student. The student’s details required for