Country's third largest private sector lender Axis Bank on Wednesday said it has launched a 'display variant' debit card which does away with the hassles of generating one time password (OTP) over SMS while transacting.
The card, which is being made available for high-value NRE customers, has an embedded EMV chip, a display screen and a touch-sensitive button which helps generating the OTP on the card itself.
"This OTP, in conjunction with the user ID and password, allows the customer to transact on internet banking without having to wait for OTP delivery via SMS or email," a bank statement said, adding that it is the first lender in the country to offer the facility.
The card comes with free ATM access across the world, offers on lounge access, loyalty points on transactions and an air accident insurance of Rs 25 lakh and a personal accident insurance of Rs 5 lakh.
Details on the charges or the minimum balance requirements were not immediately available.
