ICICI Bank launches ICICI Bank Carbon in partnership with Visa

                                                                                                                                                                                                                                            September 12, 2013

  • Asia's first Credit Card with Visa CodeSure
  • Users can generate secure One-Time-Passcodes (OTP) for online transactions instantly on the card itself

Mumbai: ICICI Bank Limited, India's largest private sector bank, today announced the launch of its next generation Credit Card – ICICI Bank Carbon.

Developed in partnership with Visa, ICICI Bank Carbon is Asia's first credit card powered by Visa CodeSure, which along with EMV chip technology, makes the card one of the safest for any usage, especially for online shopping.

ICICI Bank Carbon brings unparalleled safety for online transactions through cutting edge technology, enabling card members to instantly generate a highly secure dynamic passcode on the card. The card plastic incorporates an alpha-numeric LCD screen, a 12-button touch keypad and an in-built battery to generate dynamic one time passcodes.

In order to use this card, the card member initially needs to generate a CodeSure PIN on the ICICI Bank website prior to using the card. This is a one-time activity. Using this CodeSure PIN, the card member can instantly generate a one-time-passcode (OTP) on the card plastic itself. The display panel on the back of the card then shows this OTP which can be used to authenticate online transactions. This means that the card is secure, even if somebody has fraudulently accessed the card number, as no online transactions can be carried out without the CodeSure PIN and OTP. Also, even if the customer loses the physical card, it cannot be used for online transaction without the CodeSure PIN which is exclusive to the customer.

Speaking on the occasion, Rajiv Sabharwal, Executive Director, ICICI Bank said, "We have always leveraged technology to make banking both convenient and secure for our customers. Our continuing adoption of innovative technology is part of our commitment to strengthen our relationship with our customers. The ICICI Bank Carbon, powered by Visa CodeSure, is another step in this direction. We are happy to launch this card in association with Visa, for the first time in Asia and I am sure that this will be as popular in India as it is in some of the European countries. This card will be one of the safest available for online and standard use and also comes with an EMV chip for added security against counterfeiting."

Announcing this launch, Uttam Nayak, Group Country Manager, India and South Asia, Visa, said,"This is a crucial step towards further securing electronic/card-not-present transactions. Visa and ICICI Bank have partnered in the past to ensure safety in the online payments space. With the growing appetite of banks and customers for innovative technology in payments, and Visa's commitment to developing new technologies, Visa CodeSure offers the next level of security and convenience by offering a dynamic passcode through an integrated screen on the card."

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The ICICI Bank Carbon offers a wide list of attractive benefits to the card members.
The list includes:

  • Rewards on all purchases powered by PAYBACK, which is India's first and largest multi partner loyalty programme. Card members can earn two PAYBACK points per Rs.100 spent
  • Complimentary movie tickets with 'buy one get one free' movie ticket program on www.bookmyshow.com
  • Access to Culinary Treats programme, offering a minimum 15% savings at 800+ restaurants across India from ICICI Bank
  • Complete waiver of 2.5% fuel surcharge at HPCL fuel stations
  • Enhanced security through embedded microchip to prevent counterfeiting and skimming

The ICICI Bank Carbon is available on the Visa Infinite platform. The card offers the following exciting benefits from Visa Infinite:

  • Visa Blockbuster weekends - Buy one get one free offer on movie tickets at www.bookmyshow.com on weekends
  • Complimentary access at select airport lounges in India

The ICICI Bank Carbon will be offered to select ICICI Bank Credit Card members only. It is available at an inaugural one-time fee of Rs. 1,000 plus applicable service tax. Applicants may contact the ICICI Bank 24-hour Customer Care for details.

About ICICI Bank:ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of US $ 124 billion at March 31, 2013. ICICI Bank's subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank's presence currently spans 19 countries, including India.For more information, please visit www.icicibank.com

For Press Queries please contact:

Mr. Sujit Ganguli
Head, Brand and Corporate Communications
ICICI Bank Limited
Bandra Kurla Complex, Mumbai – 400051
E-mail: ganguli.sujit@icicibank.com

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