Icici Bank Coral Paywave Contactless Debit Card - Benefits, Charges and Eligibility

Icici Bank Coral Paywave Contactless Debit Card Overview

ICICI Bank Coral Paywave Debit Card is a unique and revolutionary debit card that you can be used to make faster and contactless payments. It also promises to deliver superior values through exciting features for shopping, dining, entertainment and more. Coral Paywave Debit Card opens a world of Speed, Security and Convenience.

Icici Bank Coral Paywave Contactless Debit Card Features

  • Issued under VISA platform
  • Cashless Shopping
  • Use your Card on the internet for buying travel or movie tickets, paying your bills and much more
  • Receive instant SMS alerts on transaction made on your Card
  • Allows you to track your spends on a regular basis. The details of the purchases made on your card, along with the date, merchant's name and amount are mentioned in your bank statement

Icici Bank Coral Paywave Contactless Debit Card Eligibility

All customers holding an account with ICICI bank are eligible for this card. Existing eligible customers can also upgrade the accounts to apply for this card.

Icici Bank Coral Paywave Contactless Debit Card Fees & Charges

  • Joining fee: Rs.599 plus service tax
  • Annual fee:Rs.599 plus service tax
  • PoS/Ecom Transactions: Nil
  • Re-issuance charges: Rs. 200 plus service taxes

Icici Bank Coral Paywave Contactless Debit Card Benefits

  • Kaya Gift Voucher worth Rs.1,000
  • Coral Debit Card customer will be eligible for 1000 Bonus PAYBACK reward points on first usage of debit card for any retail or online purchase, and 2 earn transactions through PAYBACK online shops using PAYBACK Card or linked mobile number within 60 days of card issuance
  • Wills Lifestyle gift certificates worth Rs.1000
  • Speed: Coral Paywave Debit Card works with a built-in Paywave technology to make contactless payments at retail outlets. Just Tap and Pay your Coral Paywave Debit Card at NFC enabled POS terminals
  • Security: No need to hand over your card to make the payment. You can just wave your Coral Paywave Debit Card at a distance of 4 cm from the merchant terminal and make the payment in the blink of an eye
  • Convenience: Get all the Coral benefits. Use Coral Paywave Debit Card to avail free movie tickets, free airport lounge access, dining discounts, fuel surcharge waiver, Payback reward points and many more exciting offers

What is EMV-Chip Based Debit Card?

EMV stands for Europay MasterCard and Visa, who developed this technology. EMV-chip based debit cards are the debit cards which have embedded microprocessor chip that stores and protects cardholders' information/ data. It uses enhanced security features to protect the important date of the card holders and discourages card's unauthorized usage.

EMV-chip based debit card generates fresh user data every time the user transacts. Therefore, it is impossible for hackers/ fraudsters to steal the information or copy the original data from any card. Further, EMV technology uses your debit card as well as PIN to complete any transaction.

The Reserve Bank of India (RBI) has asked all banks in the country to replace magnetic-strip debit/ credit cards with EMV-chip based cards by 31 December 2018 as magnetic cards are quite vulnerable to skimming. Banks have already replaced the existing magnetic strip debit/ credit cards with latest EMV chip cards. Banks will provide it free of cost.