The card is be available in pre-paid with additional facilities such as re-loadable and rupee-denominated. The card that is sharing the same platform as VISA card is an effort to help the parents to disburse money to their children staying away from home. Besides, the parents would also be able to track their children"s expenses too. The cash withdrawals from the card would be possible at ATMs, POS transactions at VISA enabled terminals. Further, the card would also permit online shopping through 'Verified by VISA'.
Axis Bank's President & Head-Retail Banking R K Bammi said, "Axis Bank is the leader in the prepaid cards business and is currently offering a bouquet of innovative rupee-denominated prepaid cards to customers for different payment needs. Axis Bank is committed to being a total solutions bank and the MY MONEY CARD is another step in that direction".