Bangalore Metro Rail Corp. Ltd. has entered into a partnership with the Mumbai-based State Bank of India that will enable commuters to receive debit cards that support both transit and traditional debit functions.

Under the agreement, finalized in August, the bank’s cardholders may obtain the combo card from their bank branches, a Metro spokesperson tells PaymentsSource. “They will, however, have to surrender their existing cards to receive the new combo card,” he adds.

The new combo debit card will come with a chip to enable commuters to pass through Metro gates by tapping the card at the turnstiles, the spokesperson says.

Cardholders may reload their Metro account at kiosks deployed at the Metro stations and at select retail stores by paying cash. “More recharging options will be added later,” the spokesperson adds.

The card also has a magnetic stripe to support traditional debit card purchases. However, the Metro account and the savings account the debit function accesses are not linked, and customers will not be able to reload their Metro card from the savings account.

Cardholders may reload their Metro account at kiosks deployed at the Metro stations and at select retail stores. 

 

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry