To further strengthen the service base for migrant customers in urban centres, Payworld and YES BANK have test marketed a Co-brand Open Loop Pre-Paid Card over past 3 months and are now launching it for mass market customers. Payworld will be distributing the YES MONEY Prepaid Cards through its Business Correspondent Agent Network in partnership with YES BANK.
Open Loop Pre-Paid Card can be used at POS (point-of-sale) terminals, eCommerce sites for payments as well as withdraw money at ATMs. Strategically, the customers who remit money to their families, can now also safeguard their remaining cash through this Prepaid Card which is PIN protected. This program also offers a Rs. 1 lakh personal accident insurance and has seen a very good response during the test phase.