India Post is going to launch prepaid cards business through Post Officces.The deparment invited Request for Proposals from the Banking estanlishments to launch this business in the first quarter of the financial year 2010-11.The Cards will be reloadable with amount ranging between Rs. 1000/- to Rs. 50000/- and subsequent top ups will be allowed in the multiples of Rs. 1000/- .The Card (magnetic stripe based) could be operated at merchant establishments or ATMs where Master Card is acceptable and in the respective Post Offices. Up to 4 (Four) add on Cards are also proposed to be issued to one customer along with the Primary Card. The Cards will be usable in India only. The Cards are to be issued to the customers from the Post Office after they pay applicable card fee and the amount to be loaded onto the card. These Cards can subsequently be topped up in any designated Pre-paid Card Post Office in the country or in outlets enrolled by DoP. The cards can also be topped up using various channels like IVR, ACH etc. DoP has a marked preference for topping up cards where the user can purchase a scratch card or coupons where the code can be used to top up the card using SMS, IVR etc, and respondents providing this facility will be given preference. The Card is to be used to the extent money is available on it. The Cards could be used for various purposes and ways such as at point of sale, at ATMs, on the Internet, for Mobile commerce and for facilitating electronic money transfer (Person to person) .For an organization these cards could be used to disburse pay, allowances and other benefits to the employees by the organization, etc. Usage will be subject to all necessary approvals. for original copy of the RFP please click the below link and down load.
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