PaymentsICICI Bank Canada Visa* Debit Card launched

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
BusinessWire BusinessWireDecember 22, 20206 min

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.

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