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YES BANK’s Prepaid Cards Win the MasterCard Payment Innovation Awards in Three Categories

Mumbai, June 25, 2014: YES BANK, India’s fourth largest private sector bank, has won the MasterCard Payment Innovation Awards under three of the total nine categories. YES BANK won these recognitions for introducing innovative Payment programs that present effective and convenient solutions to its valued customers. These are –

    1. Best Co-Brand Program awarded to YES BANK Incredible India Prepaid Card in partnership with Ministry of Tourism, Government of India to promote domestic tourism in India. It can be used at all MasterCard POS, Online merchants and ATMs in India. This card can be purchased, loaded/ reloaded at YES BANK branches and Thomas Cook outlets including Airport outlets
    2. Best Commercial Card Program awarded to YES BANK-EDENRED Ticket Restaurant Meal Card.The Meal Card can be easily reloaded with any value at any time instructed by the corporate. Employees can use their card at Edenred affiliated Ticket Restaurant outlets for purchase of food and non-alcoholic beverages only.
    3. Best Prepaid Card Program awarded to YES Money Prepaid Card. This card is designed to provide best in class financial service to the masses in India through the YES Money Business Correspondent network across the country. With 12000 plus outlets to service the customer on daily basis. The card offers various benefits like instant KYC, instant load/ reload (cash–in) via BC agent, instant transfer - Card to Bank Account, YES Money Card to Yes Money Card Transfer, Cash out at BC outlet or ATMs , Purchase at POS & E-commerce and Personal Accident Insurance amongst others

Speaking about these recognitions, Mr. Pralay Mondal, Senior Group President, Retail and Business Banking, YES BANK saidYES BANK has been at the forefront in launching innovative and class leading products and services that deliver superior Banking experience to our customers. These recognitions are a testament to our commitment towards offering Cards catering to the specific needs of our valued customers, which is backed by our superior service experience. We are sure that as we introduce more customers to the benefits offered by our cards, our customers will truly appreciate the unique value propositions that our diverse range of cards offer.”

According to Ari Sarker, Division President, South Asia- MasterCard, “We are pleased to announce “The MasterCard Innovation Awards” for participating banks in the new emerging payment space. We recognize Yes Bank’s contribution for its excellence and innovation in payments. At MasterCard, we are passionate about innovation and constantly seek to develop and test new payment solutions that are safe, simple and smart and offer consumers a seamless experience.”

YES BANK offers a wide range of Card products to its customers. It offers Debit Card which comes with the Saving Account with an attractive 7% Savings interest rate as well as Pre paid cards like Multi Currency Travel Card and the Incredible India Card for international travellers and domestic tourists respectively. The Bank also offers various Gift Cards for Corporate and Retail customer besides Meal card for Corporate customer.

About YES BANK

YES BANK, India’s fourth largest private sector Bank, is the outcome of the professional & entrepreneurial commitment of its Founder, Mr. Rana Kapoor and his top management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the Future Businesses of India.

YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers. YES BANK has a knowledge driven approach to banking, and a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the vision of “Building the Best Quality Bank of the World in India”.

About MasterCard

MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.

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