New Delhi, July 11: Citibank, leaders in plastic money business, has offered to share its infrastructure with public sector banks in the country willing to launch MasterCard debit cards, found to be effective in checking black money generation.``We are willing to share our debit card-related infrastructure with other public sector banks wanting to enter wanting to enter this segment,'' Citibank's global consumer bank head in India, Nanoo Pamnani told PTI.
Citibank which recently launched internet banking and debit cards in Mumbai and Delhi made this offer because of the tremendous potential for the growth of debit cards business in the country.
While internet banking enables customers to bank anywhere in the world on their Citibank account, the debit facility will extend the unique advantage to Citibank customers by enabling them to access their bank accounts from merchant establishments and pay for a wide range of goods and services.
Citibank, pioneers in debit card business in the country launchedits first such card in bangalore last year.
Pamnani said it would extend this business to other cities depending on the response in Mumbai and Delhi in the next six to twelve months. Citibank uses state-of-the art technology for the debit card business and already 2000 merchants in bangalore have been supplied with necessary equipment and 2000 more are to be supplied to merchants in Delhi and Mumbai in the next one year, Pamnani said. Timesbank which is also entering the debit cards business with its ``Maestro'' cards proposed to utilise Citibank's Infrastructure for this purpose.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.