Central Bank of India introduces gift and virtual cards

Source: Central Bank of India

Just in time for the festival season, a new gift card and first-of-its-kind virtual card from Central Bank of India and Rêv are opening up a world of giving possibilities for holiday shoppers.

With the Central Bank of India MasterCard Gift Card, shoppers can give the gift of choice to loved ones. And, consumers can shop and spend online with the Rêv MasterCard Virtual Card, the first virtual card to bring online shopping to Indian consumers who may not have a bank account or credit card.

Recipients can redeem Central Bank of India MasterCard Gift Cards to buy virtually anything they want, any place they choose. In addition to retail locations, recipients can also use them to make purchases online and over the phone anywhere MasterCard is accepted in India.

The Rêv MasterCard Virtual Card is a prepaid MasterCard number that gives shoppers a secure way to buy online, over the phone or by mail order wherever MasterCard is accepted without requiring a bank account or credit card.

"As gift cards and online shopping grow in popularity, Central Bank of India is committed to working with partners to make sure everyone can enjoy them," said Mr. R. Thiagarajan, Chief Manager Centralcard, Central Bank of India.

According to research firm comScore Inc., India's Internet audience saw the strongest growth in the Asia-Pacific region, reaching 28 million Internet users in April 2008, an increase of 27 percent from the previous year.[1] And the growth of gift cards also looks set to follow international trends - the U.S. gift card market alone is estimated to be worth $5 billion by Mercator Advisory Group.[2]

"We're proud to join forces with Central Bank of India to bring consumers unlimited possibilities for giving and shopping this holiday season," said Simon Hilton, CEO, Rêv Asia Pacific.

Starting today, consumers across India can enjoy the benefits of giving with a Central Bank of India MasterCard Gift Card. Recipients can also monitor the balance available on their cards from their mobile phones by registering their phone number at

Consumers can shop and spend online with the purchase of the Rêv MasterCard Virtual Card beginning next week. After purchasing the card, consumers will receive a voucher number and PIN code via mobile phone or on a printed receipt, and will use that information to register and activate the card online at www.revvirtualcard.co.in. Consumers can then access their 16-digit card number on a secure web page and receive the card's expiry date and security details via email or SMS.

Central Bank of India issues the Central Bank of India MasterCard Gift Card and the Rêv MasterCard Virtual Card.

Pricing and Availability

The Central Bank of India MasterCard Gift Card is immediately available from select Central Bank of India branches for Rs100 plus load value.* For more information and to find participating branch locations, please visit centralbankgiftcard.co.in.

The Rêv MasterCard Virtual Card is available for Rs30 plus load value and can be purchased online next week and through participating retail locations in the near future.+ To purchase a card online, learn more or find participating retailers, please visit revvirtualcard.co.in.

[1] "India and China Propel Internet Audience Growth in Asia-Pacific Region," comScore, June 2008 (/bit.ly/zBp6w)
[2] "5th Annual Prepaid Closed-loop Market Assessment," Mercator Advisory Group, October 2008 (bit.ly/182hvs)
* Valid identification required.
+ Valid identification, Indian mobile phone number and email address required.

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