LIC Card Services Limited eyes foray into e-gift card market with Shagun launch. Check features, benefits

LIC CSL launches Shugun reward card

LIC Playing cards Companies Restricted (LIC CSL) on Tuesday (June 15, 2021) launched a contactless pay as you go Reward Card – ‘Shagun’ in collaboration with IDBI Bank on RuPay platform. This card goals to develop the Reward Card market and promote cashless methods of gifting. Initially, Shagun card might be obtainable to LIC and its subsidiaries/associates for official use. LIC CSL mentioned the cardboard might be used to facilitate awards and particular rewards throughout official conferences/ features.

Commenting on the launch of the brand new card, spokesperson of LIC CSL mentioned, “We’re delighted to associate with IDBI Financial institution and RuPay for the launch of LIC Reward Card powered by IDBI Financial institution on RuPay Platform. We imagine that gifting is without doubt one of the largest social interactions and social occasions in our society. The variety of events for gifting is not only confined to festivals but in addition contains a number of private moments and we need to make these moments considerate, heat and full of private consideration by launching LIC Reward Card.”

Shagun Reward Card options and advantages

• The Shagun Reward Card presents customization within the type of versatile loading of any quantity starting from Rs 500 to Rs 10,000.
• With this card, the client can carry out a number of transactions inside the validity of three years.
• Shagun Reward card can be utilized at thousands and thousands of service provider retailers and e-commerce web sites in India to diversify spending choices on the cardboard.
• The cardboard will present customers the liberty to make purchases at varied service provider areas together with departmental shops, petrol pumps, eating places, jewellery shops, attire shops, and many others.
• Customers may store on-line, pay utility payments, guide tickets for air, rail,bus, and so forth by varied cell wallets and E-commerce portals or Apps utilizing this card.
• LIC CSL mentioned the contactless function of the cardboard is geared toward remodeling the transaction expertise for customers.
• The cardholders simply must faucet their contactless Shagun Reward Card on the contactless Level of Sale (PoS) terminal and make contactless funds with out having to enter the PIN for purchases as much as Rs 5000.
• The cardboard comes pre-wrapped, prepared for gifting, and in addition has the availability to incorporate personalised messages for the recipient.
• The Card will get auto-linked to a feature-rich mobile app ‘m-passbook’ giving real-time entry to transaction historical past, card stability, and many others.
• Rakesh Sharma, MD & CEO, IDBI Financial institution mentioned, “In continuum with our on-going enterprise synergies with LIC, we’re glad to even have NPCI and LIC Playing cards Companies Ltd as companions on-boarded for this initiative. This product has been curated protecting in thoughts the distinct privileges for the cardholders in addition to the comfort of the contactless cost function.”

Dilip Asbe, MD & CEO, NPCI mentioned, “We’re thrilled to associate with LIC CSL and IDBI Financial institution for the launch of Shagun Reward Card on RuPay community. We imagine that this card will present a pleasant purchasing expertise to cardholders and can act as a complete gifting possibility with the utmost comfort owing to the huge and in depth community of RuPay.”