ICICI Bank and Niyo, a new age fintech have inked a tie-up to issue prepaid cards to workers of Micro, Small & Medium Enterprises (MSMEs). MSMEs will now be able to get ‘ICICI Bank Niyo Bharat Payroll Card’ powered by Visa, for their blue-collar workers, who are mostly under-banked. With this, MSMEs can upload the salaries of their workers on the card, which the workers can then utilise as per their need in a seamless manner. The ‘ICICI Bank Niyo Bharat Payroll Card’ allows an individual to receive funds upto Rs 1 lakh into the card account. It offers convenience and safety of digital banking to the blue-collar workforce, while providing a state-of-the-art salary disbursement solution to the employers.
ICICI Bank is a leading private sector bank in India.
