State-run lender Bank of India has tied up with MasterCard to launch three new cards — Platinum Credit MasterCard, International Travel MasterCard and Business Debit MasterCard — to enrich customers’ payment experience. The bank will also offer two new banking solutions — In Control for Spend Management and MasterCard Rewards Program — to its card holders.
The platinum credit card can be used for everyday purchases and will help consumers monitor and control their expenses. The travel card which is available in US dollar and British pound will help in making travelling safer, convenient and cashless, as MasterCard is used across the globe. The debit card will help businesses in better management of expenses by facilitating the switch from cheques and petty cash. This will result in increased purchasing flexibility, ease, and security.
In Control for Spend Management enables cardholders to manage their finances efficiently. It allows them to spend with greater confidence and control. The MasterCard Rewards Program is a merchant-funded loyalty program that will let BOI’s Platinum credit card holders earn up to 5% of their spends at participating retail and ecommerce merchant establishments as ‘MasterCard Rewards’. These points can be redeemed by the means of exciting redemption options. Bank of India is the first bank in the country to launch the MasterCard Rewards program.
V R Iyer, Chairman and Managing Director, Bank of India said, “We constantly look to provide services that make the banking experience of our customers even more seamless and convenient. The launch of ‘MasterCard in Control’, the three new card offerings and loyalty program is yet another step in that direction and importantly, they also contribute to spreading the message of better financial management. We are delighted to have MasterCard as our partner in providing these additional services and look forward to providing our customers an enhanced payment experience in due course.”