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ICICI Bank Canada Visa* Debit Card launched

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·5 min read
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  • The card enables customers to shop online and at merchant outlets across the world on Visa network

  • Allows quick contactless payments at PoS machines across the country

ICICI Bank Canada today announced the launch of a debit card. Named, ‘ICICI Bank Canada Visa Debit Card’, it offers customers an unparalleled benefit of online shopping, purchasing at millions of retail outlets across the world and making quick contactless payments at Point of Sale (PoS) machines across Canada. This card also empowers customers to withdraw cash from thousands of Automated Banking Machines (ABMs) in the country without surcharge#.

Further, the Bank offers customers the ease of activating the card and blocking/unblocking it with a few simple clicks on its mobile banking app, ‘ICICI Bank Canada iMobile app’ and online banking platform. It is the first card in Canada that enjoys the combined strength of Visa*, Interac† and THE EXCHANGE® Network as it is powered by these three large networks.

Commenting on the launch, Mr. Sandeep Goel, President and CEO, ICICI Bank Canada, said, "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."

ICICI Bank Canada and Everlink Payment Services Inc. are jointly spearheading the Visa debit card adoption for other financial institutions to drive digital payments growth in Canada.

"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," said Ms. Stacey Madge, President & Country Manager, Visa Canada. "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."

"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," said Mr. Mark Ripplinger, President and CEO of Everlink. "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."

"We are excited to see ICICI Bank Canada take the lead in offering this first-to-market service to their customers. THE EXCHANGE Network saves Canadian cardholders millions of dollars each year in ABM surcharge fees and we are thrilled that our longstanding member, ICICI Bank Canada, is extending our unique network value to its ICICI Bank Canada Visa Debit Card cardholders," said Mr. Andrew Obee, President & CEO of FICANEX.

Key benefits of the card:

Worldwide acceptance: Customers can use the card to shop online at more than 1.5 million merchants and at 55 million international retailers worldwide, wherever Visa is accepted.
Robust security: Robust Visa security measures and 24x7 fraud monitoring make the online transactions even more safe and secure.
Manage cards feature: This feature enables customers to activate the card or block/unblock it digitally, using ICICI Bank Canada iMobile app and online banking platform.
PoS and ABMs: The card can be used at more than 450,000 PoS locations in Canada and offers surcharge-free access to thousands of ABM machines in the country#.

An existing customer of the Bank can apply for this card by visiting any ICICI Bank Canada branch or contacting the customer contact center.
To learn more about the ICICI Bank Canada Visa Debit Card, please click here.

About ICICI Bank Canada

ICICI Bank Canada is a wholly-owned subsidiary of ICICI Bank Limited, which has its headquarters in Mumbai, India. ICICI Bank Limited (BSE: ICICIBANK, NSE: ICICIBANK and NYSE: IBN) is a leading private sector bank in India. The Bank’s consolidated total assets stood at US$200.08 billion as at September 30, 2020. Active in all provinces and territories, ICICI Bank Canada conducts business as a full service direct bank under Canada’s Bank Act. Visit icicibank.ca to learn more

About Visa Inc.
Visa Inc. (NYSE: V) is a world leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. Our relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit visa.ca, usa.visa.com/visa-everywhere/blog.html and @VisaCA.

*VISA is a registered trademark of Visa International Service Association and used under license
†Interac and Interac Flash are registered trademark owned by Interac Corp.., used under license
®THE EXCHANGE marks are licensed for use in Canada by FICANEX Services Limited Partnership
# Surcharge free withdrawals only on THE EXCHANGE Network

View source version on businesswire.com: https://www.businesswire.com/news/home/20201221005208/en/

Contacts

Shweta Patheja
ICICI Bank Canada
+1 (416) 885 2994
MediaRelations@icicibank.com