[CA/Econ] EnKasu

In a bid to promote digital India initiative of the central Government, Karur Vysya Bank (KVB), a Scheduled Commercial Bank in India, has launched India’s 1st  prepaid wallet card ‘Enkasu’ (My cash in Tamil / என் காசு) in Karur, Tamil Nadu under its Quit cash movement. The card functions based on Near Field Communication Technology (NFC) in a semi closed loop & the customers buying this card can make ‘tap & go’ payments for even small purchases to merchants from an amount of Rs. 1 to doing away with the need for cash & small change.