A recent press report Public sector Syndicate Bank has partnered with MasterCard Worldwide to offer a global debit card. The new card is targeted at the bank’s customers and business enterprises.
Reports also said that the bank has entered into a Memorandum of Understanding (MoU) with MasterCard to provide an additional e-payment channel to carry its payment transactions through the MasterCard network.
Mr. Ravi Chaterjee, Executive Director, Syndicate Bank, said that the new facility will facilitate 360 degree solution to all the existing and prospective customers. He said that the bank, with a customer base of 26 million, has aimed to improve customer convenience by offering ‘Maestro Global Debit Card’. He also said that the initiative has given the bank’s customers the option of choosing the Maestro Advantage for their payment needs.
Mr. Chaterjee said the bank’s customers can use their Syndicate Bank-Maestro debit card in over 210 countries and at 31.7 million acceptance locations worldwide.
Reports said that the card has additional security features with compulsory pin authentication at Point-of-Sale (PoS) terminals and merchant establishments.
This is one more unique value-add payment service offered by MasterCard to Syndicate Bank customers. Other than this the bank is meeting varied personal credit requirements of different classes of people through the loan schemes namely SyndNivas (home loan), SyndVahan (vehicle loan), SyndVidya (educational loan), agriculture loans etc.