Bankit’s new business unit to offer customizable prepaid cards for MSMEs, startups and corporates

Fintech startup Bankit has announced the launch of its new business unit under which the company will be offering customizable and cobranded prepaid card solutions to allow instant online digital onboarding, ordering and portal-based functions for MSMEs, startups and corporates. This new unit will empower the businesses to issue prepaid cards to their employees and customers, supported by simple to use Cardholder Mobile app. This prepaid card can be used online at shop outlets or at ATMs.

Available in virtual, plastic and wearable forms, businesses can design the prepaid cards with their brand for better brand recognition and customer intimacy. The card offerings can be customized to suit different requirements of businesses seeking standard-cards, incentive cards, loyalty cards, travel cards, fuel cards, restaurant cards, gift cards etc. The cards can be loaded with a maximum balance of Rs 2 lakh and used for utility bill payments, wallet recharges, online shopping at e-commerce platforms, ticket booking, cash withdrawals at ATMs and making payments at POS terminals.

Satyajeet Limaye, Chief Strategy Officer, Bankit, said, “As always at Bankit, with this initiative, our endeavour is to introduce innovative, tech solution that help businesses with newer brand presence opportunity. We are focused towards MSMEs, startups and offer branding opportunities for corporates through customizable prepaid card solutions. In addition to the Bankit corporate card, we help large businesses to digitize customer loyalty and create a channel to stay connected with customer who love your brand. Creating a connection with help of mobile app and prepaid card branded with your logo is an innovative way of rewarding your employees, customers and partners for choosing to work with you. The company has roadmap for taking this innovation to international markets while addressing the financial needs of a larger business groups.”

Designed to assist in the overall growth of businesses and corporates by providing financial convenience, the prepaid cards can be availed with a minimum KYC registration and identity verification eliminating the need to open a new bank account. Bankit cards also come with easy-to-use app and portal that enables businesses to manage funds digitally, auto submit expenses, assign user access limit, check balances, download reconciliation reports and more, all digitally and instantly.