ICICI Bank Canada introduces ICICI Bank Canada Visa Debit Card

By Pavithra R

ICICI Bank Canada has announced the launch of a debit card named ICICI Bank Canada Visa Debit Card, to offer customers with the benefit of online shopping, purchasing at retail outlets across the world and making seamless contactless payments at Point of Sale (PoS) machines across Canada.

The card empowers customers to withdraw cash from several Automated Banking Machines (ABMs) in the country without surcharge. Additionally, the bank is offering customers the ease of digital card activation and blocking/unblocking it with simple clicks on its mobile banking app and online banking platform. 

“At ICICI Bank Canada, it is our constant endeavor to bring forth innovative banking solutions for our customers. We are delighted to join hands with our long-standing partner Visa for the launch of this unique debit card. During the ongoing pandemic, we are witnessing an accelerated shift of consumers towards the digital world, resulting in record growth in online sales. We believe that this card will act as an enabler to provide our customers with a frictionless payment experience across channels,” said Mr Sandeep Goel, President and CEO, ICICI Bank Canada.

ICCI bank touts the card to be the first in Canada to enjoy the combined strength of Visa, Interac and THE EXCHANGE Network as it is powered by these 3 large networks. Key benefits of the card include:

• Global acceptance across international retailers worldwide, wherever Visa is accepted.
• Robust Visa security measures, and 24×7 fraud monitoring, making online transactions more safe and secure.
• Manage cards feature to enable customers to activate the card or unblock/block it digitally, using mobile app and online banking platform.
• PoS and ABMs, with surcharge-free access to thousands of ABM machines in the country.

“We are pleased to work with ICICI Bank Canada to offer its customers increased choice, flexibility and security through access to Visa’s leading debit capabilities. As spending habits continue to show a preference for online shopping, customers of ICICI Bank Canada will now have more ways to shop online with ‘ICICI Bank Canada Visa Debit Card’, accepted by millions of merchants worldwide,” said Ms Stacey Madge, President & Country Manager, Visa Canada.

The bank and Everlink Payment Services are jointly spearheading the Visa debit card adoption for other FIs to drive digital payments growth in Canada.

“It has been a pleasure to work with ICICI Bank Canada to bring ‘ICICI Bank Canada Visa Debit Card’ to market, and we’re very excited about the benefits this program will bring. We feel the delivery of this program is apt in time amidst the challenges of the COVID-19 pandemic. Indeed, over the last few years, we have witnessed the rapid shift in card payments from brick and mortar stores to online. This has only been accelerated over the last eight months as cardholders seek safer ways to shop,” said Mr Mark Ripplinger, President and CEO of Everlink. 

ICICI Bank Canada is a wholly-owned subsidiary of ICICI Bank Limited. As of September 30, 2020, the bank’s consolidated total assets stood at US$200.08 bn. The bank is active in all provinces and territories, and conducts business as a full-service direct bank under Canada’s Bank Act.