ICICI Bank announced its foray into EMV (Europay, MasterCard, Visa) Standard chip cards with the launch of the ICICI Bank Coral Credit Card.
The card provides additional security to cardholders against possible misuse in the form of counterfeiting and skimming on account of the embedded microchip that contains card member information in an encrypted format, said a press release issued by the bank.
The Coral Credit Card is part of the ‘Gemstone Collection’ of ICICI Bank Credit Cards. It offers cash rewards on all retail purchases.
Apart from the additional level of security, the Coral Card also offers rewards on all purchases, powered by the multi-partner loyalty programme, PAYBACK.
Cardholders also have a choice to redeem the PAYBACK points as cash credited into their credit card account at the rate of Rs 0.25 per PAYBACK point or into gifts, the release added.