India’s Punjab National Bank Ltd recently launched two new MasterCard Worldwide-branded cards, including a prepaid card for travelers and an rewards-based debit card for upscale customers.
The bank’s new World Travel Card, a prepaid card designed for international travelers, is available in three currencies, including the U.S. dollar, the euro and the U.K. pound. The card can be used at both ATMs and at point-of-sale terminals.
The card is free to those purchasing anything below 50000 rupees (US$1,072 or 834 euros). For amounts above that, the card carries an annual fee of 100 rupees (US$2.15).
The bank’s new Platinum debit card enables cardholders to earn rewards points through point-of-sale transactions. Cardholders may also qualify for special shopping and dining benefits. The card, targeting high net worth customers, carries an annual fee of 2,500 rupees (US$53.50 or 42 euros).
It is the first time the bank has offered rewards in conjunction with a debit card, a bank spokesperson says.
Punjab National Bank has 10 million debit cardholders, he says.
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