Karur Vysya Bank has launched India’s 1st pre-paid card Enkasu (My cash in Tamil) in Karur, Tamil Nadu under its Quit cash movement. The card functions based on Near Field Communication Technology (NFC) in a semi closed-loop & the customers buying this card can make ‘tap & go’ payments for even small purchases to merchants from an amount of Rs. 1 to doing away with the need for cash & small change.
The card can be recharged through multiple means - through KVB's mobile App 'DLite', UPI, NEFT or through KVB's many branches in Karur. KVB intends to provide Enkasu cards to all its customers in Karur. Non-customers of the Bank can also, subject to satisfaction of KYC norms, get an Enkasu card, even if they do not have a bank account anywhere. The customers will be able to pay for their purchases at most merchant establishments across Karur.