In a bid to promote digital financial transactions, Manappuram Finance is planning to launch its own co-branded prepaid card in tie-up with YES Bank. The ‘Manappuram YES Bank Prepaid Money Card’ can be pre-loaded up to a maximum amount of Rs 50,000 and then be used to withdraw money from all ATMs.
The company will issue the prepaid cards to its entire base of 20 lakh customers and link their existing gold loan accounts to the card. This will enable them to withdraw money from ATMs across India. Moreover, customers can also withdraw money from any of the 3,300 branches of Manappuram Finance.
Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.
