PRESTIGE INSTITUTE OF MANAGEMENT

AND RESEARCH, INDORE (M.P)

Project
Topic- comparative study of prepaid smart card between SBI
& Axis bank
Subject: Bank Management
Program: MBA (Financial Administration)
Section: “A” Semester: 2.

Submitted To Submitted by:-

Dr.Shailendra Gangrade
Harsh Kashyap 1121812599(18)
Nikita Rathore 1121812982 (31)
Nikita Suman1121812649(32)
Payal Yadav 1121813358(36)
Pooja Pandey 1121813371 (37)

INDEX
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Contents Page No.

 Introduction of SBI & Axis 3

 Conceptual framework of Prepaid card 4-6

 Reason for selecting Prepaid card 7

 Features / details of schemes 7-15

 Comparison between SBI & Axis bank Prepaid 16-19

card

 Learnings 20

 Conclusion 20

1. INTRODUCTION

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S tate Bank of India (SBI)is an Indian multinational, public sector banking and financial
services statutory body headquarters in Mumbai, Maharashtra. It is owned by the Indian
government. It was established post-independence on July 1,1955 through implementation of
SBI Act,1955. SBI is the 43rd largest bank in the world and ranked 221st in the Fortune Global 500
list of the world’s biggest corporations of 2020, being the only Indian bank on the list. It is a
public sector bank and the largest bank in India with a 23%market share by assets and a
25%share of the total loan and deposits market. It is also the fifth largest employer in India with
nearly 2,50,000 employers.

Axis Bank Limited is an Indian private sector bank headquartered in Mumbai, Maharashtra. It

sells financial services to large and mid-size companies, SMEs and retail businesses. Axis Bank
established in 1993 was the first of the new private banks to have begun operations in 1994
after the Government of India allowed new private banks to be established. Axis Bank Ltd. has
been promoted by the largest and the best Financial Institution of the country, UTI. The Bank

was set up with a capital of Rs. 115 crores, with UTI contributing Rs. 100 crores, LIC – Rs. 7.5
crore and GIC and its four subsidiaries contributing Rs. 1.5 crore each. Axis Bank is one of the
first new generation private sector banks to have begun operations in 1994. The Bank was
promoted in 1993, jointly by Specified Undertaking of Unit Trust of India (SUUTI) (then known
as Unit Trust of India), Life Insurance Corporation of India (LIC), General Insurance Corporation
of India (GIC), National Insurance Company Ltd., The New India Assurance Company Ltd., The
Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The shareholding of
Unit Trust of India was subsequently transferred to SUUTI, an entity established in 2003.
The Bank has strengths in both retail and corporate banking and is committed to adopting the
best industry practices internationally in order to achieve excellence.
2. Conceptual framework

Prepaid Payment Instruments (PPIs): PPIs are payment instruments that facilitate purchase of
goods and services, including financial services, remittance facilities, etc., against the value
stored on such instruments. In exercise of the powers conferred under Section 18 read with
Section 10(2) of the Payment and Settlement Systems (PSS) Act, 2007, RBI has issued these
Master Directions. consumers Prepaid debit cards are issued by banks and branded by the
major credit card companies, including Visa, MasterCard, Discover, and American Express. it an

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initiative by the government’s encouragement towards cashless economy. the in addition to
this, increasing number of organized retailers has also contributed to the growth of the prepaid
cards market in India.
PPIs that can be issued in the country are classified under three types: -

Prepaid meal
Closed System PPIs
instruments

Prepaid Payment Semi-closed System

Gift instruments
Instruments (PPIs) PPIs

PPIs for Mass Transit

Open System PPIs
Systems (PPI-MTS)

PPIs for cross-border

outward transactions

PPIs for credit

Specific categories of Cross-Border
towards cross-border
PPIs Transactions
inward remittance

Foreign Exchange PPI

Closed System PPIs: These PPIs are issued by an entity for facilitating the purchase of
goods and services from that entity only and do not permit cash withdrawal. the
issuance and operation of such instruments is not classified as payment systems
requiring approval / authorization by the RBI.

Semi-closed System PPIs: These PPIs are used for purchase of goods and services,
including financial services, remittance facilities, etc. These instruments do not permit
cash withdrawal, irrespective of whether they are issued by banks or non-banks.

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 Open System PPIs: These PPIs are issued only by banks and are used at any merchant
for purchase of goods and services, including financial services, remittance facilities, etc.

Key Players
the India prepaid cards market, covering their competitive landscape, capacity, and latest
developments like mergers, acquisitions, and investments, expansions of capacity, and plant
turnarounds:
Axis Bank
ICICI Bank
State Bank of India
HDFC Bank
Punjab National Bank
Yes Bank
Kotak Mahindra Bank
Others

 State Bank of India (SBI): - launched a prepaid card on 23 April 2013. It was the Frist
card launched by SBI ‘State Bank Smart Payout Card’ It is an ideal product for making
periodical payments like salary, wages, commission, etc. and also can be issued as an
add-on Card for the existing account holders. After that SBI launch many types of
prepaid card like
State Bank Gift Card
State Bank EZ Pay Card
State Bank Foreign Travel Card (Convenient & Safe foreign travel)
State Bank Achiever Card (Instant Gratification)
SBI NMRC City1 Card
Nagpur Metro Maha Card

 Axis Bank: - Eyeing business from foreign nationals and people from the diaspora
visiting India, private sector lender Axis Bank on February 2, 2011 launched
the country’s first currency prepaid card for such travelers. The ‘India Travel Card’ can
be funded with any major international currency and after conversion, will allow
customers to use the deposited amount in Indian currency to either shop or withdraw at

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 ATMs. Then after Axis has collaborated with Suvidha Info serve to launch a prepaid
card on 27 April 2015. The card aptly title Axis Bank-Suvidha prepaid card leverages e-
KYC platform to help customers deposit and withdraw cash instantly. The various
prepaid cards offered by Axis bank are:

Meal Card
Gift Card
Smart Pay Card
Axis Bank One Mumbai Smart Card
KMRL Axis Bank Kochi1 Card

Usage of prepaid card

The purpose of using prepaid Card in industry into:

Prepaid Card

Payroll/Incentive
Travel
General Purpose Reloadable (GPR)
Remittance
Others

Based on the vertical, the industry can be divided into:

Corporate/Organization
Retail
Government
Others

Benefits of Prepaid Credit Cards(individual)

 Prepaid credit cards can be used to pay for any good or service and customers do not
have to worry about the hassles of making cash transactions.
 Open looped prepaid cards can be used to make ATM cash withdrawals by customers.

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  Spends would not go overboard as customers can easily plan their expenses and
purchase goods only within the limit of the card.
 As long as the prepaid credit card is valid, customers can always get extra cash for
urgent purchases and transactions.
 Credit score of an individual is not a major criterion to qualify for a prepaid credit card.
 Prepaid credit cards are the easiest to procure, if the applicant is not looking for any
other type of credit card.
 Prepaid credit cards can be used for paying outstanding bills through a customer’s
mobile phone.
 For employee not holding a bank account, salaries can be distributed using prepaid
credit cards by employers.
 Prepaid cards can also function as a gift card and can be used as travel cards to load
currency when an individual is traveling abroad.

3. REASON FOR SELECTION THE TOPIC

As prepaid card provides so many facilities and people are not aware about it, so we think
it’s a new topic to choose and aware other about its services, facilities, benefits and many
more.

4. FEATURE/ DETAILS OF SCHEMS

A) State bank of India Prepaid cards
State Bank of India offers multiple types of prepaid credit cards depending on the
requirement of the applicant. Customers taking the SBI prepaid card need not have any
bank account and can be used for e-commerce transactions and cash withdrawals. The
various cards offered by State Bank of India are:
1) State Bank Smart Payout Card
2) State Bank Xpress Money Card
3) State Bank Achiever Card
The State Bank Smart Payout Card is offered in collaboration with Visa and can be used for
making salary or commission payments.
Card holders can use the card to make cash withdrawals, purchase transactions and for
online payments.
The State Bank Smart Payout Card is issued in Indian Rupees and is valid for a period of
10 years. The minimum amount that can be loaded is Rs. 100 to up to Rs 10,000.
The State Bank Xpress Money Card can be used to make inward remittances from
countries across the world. This service can be used through Money Transfer Service
Scheme (MTSS) of Reserve Bank of India via UAE Exchange and Financial Services Ltd.
State Bank Xpress Money Card is a prepaid card using which customers can make cash
withdrawals, PoS and e-commerce payments.

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 The State Bank Achiever Card can be used by corporates to make incentive payments to
their employees. The card can be loaded multiple number of times up to a limit of Rs. 1
lakh and customers can make PoS and online transactions using the card.
State bank offer a range of prepaid card:-
1. State Bank Gift Card
2. State Bank EZ pay card
3. State Bank Foreign Travel card
4. State Bank Achieve card
5. SBI NMRC City1 card
6. Nagpur Metro Maha card

Features of State Bank Gift Card: -Presenting Gifts to your loved ones during festive season or
on special occasions is an integral and unique culture in India.

 All State Bank of India Branches: Normal Gift Card for all purposes.

 State Bank Gift Card is not re-loadable

 Minimum Amount of Issue Rs. 500 and thereafter in multiples of Re. 1Easy to use Tap-
and-Go functionality and Maximum Amount of Issue Rs. 10,000/-

 The validity of the card is for 3 years from the date of issue.

 Daily Transaction Limit No Limit; upto the available balance in the Card.

 The Card can also be personalized, upon request by the Corporates for Bulk Issue.

 Gift cards to be issued only by debit to full KYC compliant accounts with SBI.

 State Bank Gift Cards can only be used at VISA enabled Merchant Establishments at
Point of sale and over Internet for e-Commerce transactions by using secure Verified by
Visa. Facility of cash withdrawal is not available on this Card.

 Cardholder can view the balance in the State Bank Gift Card and also obtain a
transaction receipt indicating the balance from any State Bank Group ATM in India free
of cost and also online at https://prepaid.onlinesbi.com

Features of State Bank EZ Pay Card:

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The State Bank eZ-Pay card, a prepaid card issued in Indian Rupees in association with VISA
international, is an ideal product for making periodical payments like Salary, Wages,
Commission, Scholarship, Old age pension, other social benefits etc. 

 State Bank eZ-Pay Card is reloadable

 Minimum Amount is Rs. 500 and thereafter in multiples of Re. 1/-, however the balance
in the Card should not exceed Rs. 1,00,000/- at any point of time and Maximum
Amount: Rs. 1,00,000/-

 State Bank eZ-Pay Card is usable at all State Bank ATMs through PIN, at VISA enabled
Merchant Establishments at Point of Sale and over Internet for e-Commerce
transactions by using secure Verified by Visa.

 Cardholder can view the balance in the State Bank eZ-Pay Card and also obtain a
transaction receipt indicating the balance from any State Bank Group ATM in India free
of cost and also online at https://prepaid.onlinesbi.com
 The validity of the card is for 10 years from the date of issue.

 Cash withdrawal from ATM up to Rs 40,000/- per day.

 POS transaction and e-commerce limit is up to the balance available in the card.

 The Card can also be personalized, upon request by the Corporates for Bulk Issue.
Features of State Bank Foreign Travel Card:
'State Bank Foreign Travel Card' is a prepaid Foreign Currency Card which travellers going
abroad are guaranteed to find useful. It is a Chip based Card which stores encrypted and
confidential information.’

 Issued in association with VISA International and MasterCard Asia/Pacific Pte. Ltd.

 Accepted all over the world except in India, Nepal and Bhutan.

 Available for retail (students, tourists, pilgrims, medical needs, etc) and corporate
customers (Companies, Government Departments, Public Sector Undertakings, etc.).

 Operable by 4-digit PIN at ATMs and by PIN/Signature at Merchant Establishments.

 Free balance enquiry at State Bank Group ATMs in India and VISA /MasterCard ATMs
overseas (at a charge).

 Maximum amount of issue: As prescribed by Reserve Bank India (RBI) / Liberalised

Remittance Scheme (LRS) / Foreign Exchange Management Act 1999 (FEMA) depending

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 on the purpose of overseas visit. Presently, equivalent to USD 2,50,000.00 or equivalent
per financial year for Education/ Employment/Medical/ Business
Trip/Tourism/Pilgrimage.
Features of State Bank Achiever Card:
The State Bank Achiever Card, a prepaid card issued in Indian Rupees in association with VISA
international, is an ideal product for making periodical payments of non cash nature like
incentives etc.

 Minimum & maximum amount of issue: Rs 500 and thereafter in multiples of Re 1/-,
however the balance in the card should not exceed Rs 1,00,000/-.
 Usage: State Bank Achiever Card is usable at all merchant establishments at point of sale
and over internet for e-commerce transactions by using secure verified by VISA.

 Balance enquiry: Cardholder can view the balance in the State Bank Achiever Card and
also obtain a transaction receipt indicating the balance from any State Bank ATM in
India free of cost and also online at https://prepaid.onlinesbi.com

 The validity of the card is for 10 years from the date of issue.

 Daily transaction limit: Cash withdrawal not allowed.

 Daily transaction limit: POS transaction and e-commerce limit is upto the balance
available in the card.

 The card can also be personalized upon request by the Corporates for Bulk issue.
Features of SBI NMRC City1 Card: -State Bank of India and Noida Metro Rail Corporation
(NMRC) Ltd. introduces to you CITY1 Card. State Bank NMRC CITY1 Card, is a contactless dual
interface (EMV chip based) prepaid card with stored value functionality for providing a safe,
secure and seamless way of payment.

 Cashless travels in Noida-Greater Noida Metro

 Purchase tickets and store passes for your Metro travel needs.

 Purchase tickets for the Noida buses using the same card

 Chip-protection to ensure better security for your card

 Easy to use Tap-and-Pay functionality

Features of Nagpur Metro Card:- State Bank of India and Maharashtra Metro Rail Corporation
Limited (MMRCL) introduces to you Nagpur Metro MAHA Card. MAHA Card, is a contactless

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dual interface (EMV chip based) prepaid card with stored value functionality for providing a
safe, secure and seamless way of payment.

 Cashless travels in Nagpur Metro

 Purchase of tickets and store passes for your Metro travel needs

 Chip-protection to ensure better security for your card

 Easy to use Tap-and-Go functionality

Benefits:

 Safer than carrying cash

 Safe, Secure and convenient payment method for usage at ATM / POS / Internet
 Control / budget / plan your expenditure through prepaid card
 Convenience of load / reload of amount as and when required for usage
 Reduces risk against fraud by keeping balance to minimum in prepaid card
 Well established hassle-free transaction process
 Hot listing facility available.
 Free SMS alerts on all transactions
Eligibility:

 Registration of Mobile Number by Purchaser and furnishing of Beneficiary details

including mobile number is mandatory.
 SB/CA/OD account should have been KYC complied i.e., submission of Photo,
Address Proof, Identification Proof etc.
How to get the Prepaid Card:
Intended Purchaser has to approach Canara Bank branch where he/she has SB/CA/OD
account.
Submit a written request in the prescribed form for purchase of Prepaid/Gift Card.
Provide the mandatory details of beneficiary like Name, Address, Mobile No.
Authorize Bank to transfer amount from his/her SB/CA/OD account for load/reload
purpose.
Non-Personalized Cards are instantly issued by the Branch.
In case of Personalized Cards, Cards will be sent to the Branch and Purchaser has to
collect the same from the Branch.
In case of reload, Purchaser has to submit written request in the prescribed form and
authorize Bank to transfer amount from his/her SB/CA/OD account for the purpose.
In case of cancellation and refund, Purchaser has to submit written request in the
prescribed form.

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Taking care of your card:
Store your card in a secure place where you will immediately know if it is missing.
Avoid scratching the magnetic strip.
Do not place two Cards with the magnetic strips together.
Do not bend the card.
Keep your card away from direct sunlight

Axis Bank Prepaid Cards -

As a rupee denominated prepaid card, the Axis Bank Smart Pay Card can be used by
employers to disburse employee salaries, reimbursements and cash to their employees.
This card ensures that payouts happen immediately and on secure platforms.
The Axis Bank Smart Pay Card is a reloadable card and funds can be added by the
employer. Customers can pick up an Axis Bank Smart Pay Card at any Axis Bank branch.
Issued in collaboration with Visa, this prepaid card can be used at any merchant outlet
to ATM to withdraw cash. The Axis Bank Smart Pay Card can also be used for online
shopping and other transactions using the Verified by Visa (VbV) platform.
Applicants need not hold a bank account or maintain any balance to procure an Axis
Bank Smart Pay Card.
Customers can loan any amount between Rs. 500 to Rs. 50,000 for one day, with the
daily cash withdrawal limit at Axis Bank ATMs being Rs. 20,000 and the daily limit for
PoS transactions being Rs. 50,000.
The Axis Bank Smart Pay Card comes with zero lost card liability insurance against
fraudulent transactions.
Axis Bank offers a range of pre-paid cards:
1. Meal Cards,
2. Gift Cards,
3. Rewards Cards and
4. Smart Pay Card
5. One Mumbai Card
6. KMRL Axis Bank Kochi1
. Feature and Benefits of Meal Prepaid Card:
The Axis Bank Meal Card can be used at all food and non-alcoholic beverage outlets and it
includes:
 Eateries and Restaurants, Fast Food Joints, Bakeries and Dairy Product Shops, Grocery
Shops and Supermarkets, Meat Markets and Food Retail Outlets, Miscellaneous Food

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 Shops—Convenience Stores and Specialty Markets, Sweets, Nuts and Confectionery
Shops.

 Use your card anywhere – Axis bank meal card work at all food and non- alcoholic
beverage merchant outlets including sweets, restaurant and many more.
 Get two- fold benefits – Meal card will not only ensure cost savings, but also to
improved operational efficiency for your organization.
 Choose your balance amount as per your needs – Deposit any amount from Rs. 500 up
to a maximum limit of Rs. 10000.
 Check card balance with ease – Make balance enquiries through our internet Banking or
Telebanking facilities.
 Easy convenient transaction and funding – Easy and convenient to use Axis bank meal
Card can also be funded through multiple channels.
 Be assured of security while transacting – Higher security over regular paper vouchers.
 Reduce organization’s operational costs – The entire payment process is seamless and
administrative costs are reduced.
Feature and Benefits of Gift Card:
The Axis Bank Corporate Gift Card is the perfect solution for organizations that are
interested in a more flexible and cost-effective way to motivate and reward their
employees, vendors and customers. The Axis Bank Corporate Gift Card is
customizable and can be used to provide tailor-made solutions for the corporates.
The Axis Bank Gift Card is welcome everywhere RuPay cards are accepted in India –
including retail stores and online merchants.

 Use the card online and at stores – The Axis Bank Gift Card is a prepaid, non-
reloadable magnetic strip card with one year validity. The card widely is accepted
across merchant outlets and online portal.
 Choose your balance amount as per your needs – The Gift Card can be loaded with
any denomination between Rs. 500 and Rs. 10000.
 Ensure secure transactions – A unique Pin ensures secure usage across any
merchant outlet terminals and online portals across India.
 Make corporate gift convenient – Perfect for incentive programs R&R (Reward and
Recognition), gifting within the organization and providing tailor -made.
 Handle easily without worrying about damage – Easy to handle, unlike paper gift
vouchers/ coupons that are susceptible to damage.
 Give a gift from anywhere – Distance doesn’t matter; gift your family and friends
from anywhere.
 Avail of existing offers – The Axis Bank Gift Card has continual offers on major e-
commerce sites.

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 Give people a chance to choose their own gift – The Axis Bank Gift Card lets you gift
people the opportunity to buy what they really want.
Features and Benefits of Smart Pay Cards
The Axis Bank Smart Pay Card is designed for making hassle-free disbursements of
salaries/petty cash /reimbursements to your blue-collar employees. With secure and
convenient electronic payments, it ensures instant pay outs and empowers your
employees with anywhere-anytime money.
 Use your card anywhere – The Smart Pay Card can be used at all Axis Bank ATMs
in India as well as at any VISA merchant.
 Enjoy Higher Transaction limits – Daily cash withdrawal at Axis Banks ATMs of
Rs. 20000.
Daily point of sale transaction limit of Rs. 50000.
 Spend securely and at your own convenience – Secure and convenient electric
payments ensure instant payouts and empower your employees with anywhere
– anytime money.
 Enjoy convenient transaction – The Axis Bank Smart Pay Card facilitates cash
withdrawal and point of sale transactions and merchant layouts.
 Use easily, without needing a salary account – The Smart Pay eliminates the
need for a separate salary account.

Features and Benefits of Reward Card:

The Axis Bank Rewards Card offer businesses an innovative and effective way to
motivate consumers, employees, sales teams and distributors. It’s the ideal
alternative to traditional paper cheques and merchandise awards.

 Use your card anywhere – The Reward Card use at all VISA enabled merchant
outlets across India and has a reloadable facility.
 Pay with ease – Pay with a single loading instruction, from the corporate to the
bank.
 Check card balance with easy – Make balance enquiry through Telebanking or
through our Internet Banking service -I connect.
 Enjoy Convenient transaction – Easy administration, distribution and usage.
 Reduce organization’s operational costs – The entire payment process is
streamlined with lower distribution and fulfilment costs.
 Enjoy flexibility and customization – The card offers corporates more flexibility
to customize their programs. Designed themed incentive programs, and select
merchant or merchant categories where the card can be used
Features and Benefits of One Mumbai Card:

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 Direct Access to Mumbai Metro – No queues -just tap your card at the gate and
proceed for your metro ride
 All-In-One Card – The one Mumbai smart card can be used inside Mumbai metro
and across retail and online store anywhere in India.
 Instant Issuance – Get your card instantly at the nearest Mumbai Metro Station.
 Tap and pay – The one Mumbai smart card is contactless smart card. Tap your
card at the Entry and Exit gate at Mumbai metro for automatic free.
 Flexible loading – You can reload your card with any amount up to Rs. 5000 per
month through cash or debit /credit card through any of the following channels:
 Mumbai Metro Ticket Issuance Counters: Pay by cash or debit /credit card at
the ticket counter.
 Online customer portal: Login to the online customer portal and reload your
card online using debit /credit card.
 Hassle free, Cashless metro ride for 5 years – Enjoy cashless and hassle-free
Mumbai metro ride with your card. The validity expires after 5 years.
Features and Benefits of KMRL Axis Bank Kochi1:

 Discount on Metro fare – Get a discount on metro ticket fares every time you use
your card.
 Direct Access to Kochi metro - No queues -just tap your card at the gate and
proceed for your metro ride.
 All-In-One Card – The KMRL Axis Bank ‘Kochi1' card can be used inside Kochi
Metro and across retail and online store anywhere in India.
 Instant Issuance with your Name – Get your card at the nearest Kochi metro
station with your name on it.
 Tap and pay – The KMRL Axis Bank ‘Kochi1’ card is a contactless enabled card.
Tap your card at the Entry and Exit gates at Kochi Metro for automatic free.
 Hassle free, Cashless metro ride for 3 years – Enjoy cashless and hassle-free
Kochi metro ride with your card. The validity expires after 3 years.
 Flexible loading – You can reload your card with any amount up to Rs. 3000 per
month through cash or debit /credit card through any of the following channels:
 Kochi Metro Ticket Issuance Counters: Handover cash or debit /credit card
to the ticket issuance operator
 Online Banking: Click here to login and reload your card online through
any debit /credit card.
 Axis Bank ATM: Existing Axis Bank account holder can reload their card
using their active Axis Bank debit /credit card.
SMS Banking: Existing Axis Bank account holder can reload their card through
their savings account in Axis Bank. Kindly ensure the mobile number for your
Axis Bank primary account and your KMRL Axis Bank ‘Kochi1' card are the same.

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 5. Comparison Between SBI and Axis Bank
SBI provide 6 prepaid card State Bank Gift Card, State Bank EZ pay card, State Bank Foreign
Travel card, State Bank Achieve card, SBI NMRC City1 card, Nagpur Metro Maha card whereas
Axis bank also provide 6 prepaid card Meal Cards, Gift Cards, Rewards Cards, Smart Pay Card,
one Mumbai card and KMRK KOCHI Prepaid card in which 4 cards are with different name
proved same facility with different scheme where as other two card provide by SBI are SBI
NMRC City1 card, Nagpur Metro Maha card are the extra card facelifted by SBI according to
the city traveling. same with Axis bank they also provide two more card which related to city
traveling. So, we compared other four cards which provide same facility with different scheme
are as follow

A. SBI Gift Card & Axis Gift card

Basis SBI Gift Card Axis Gift Card

Issuance Fee Rs 150+G.S.T. Rs. 100 plus taxes per card

Replacement Rs 100+G.S.T. Rs. 100 plus taxes per card (only valid for
card physical
ME’s may impose a surcharge viz petrol Rs. 100/- per card plus applicable
Transaction at pump, railway etc. government taxes
merchant
establishes
Maximum 10000/-maximum and 500 minimum Same as SBI 500/- minimum and 1000/-
amount of issue maximum
Reloadable any Not reloadable Not reloadable
number of times
Validity 3-year validity from the date of issue one year starting from the date of issue

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 Balance Enquiry Free balance enquiry at State Bank Group
ATMs and VISA ATMs (at a charge). Axis
Bank provides you the facility of balance
enquiry on your gift card through Internet
Banking facilities
contains a Telebanking PIN and an Internet
Banking PIN. Log onto www.axisbank.com
and select the Prepaid Card option under the
Internet Banking section.

Platform Issued on the VISA platform over Internet issued on the RuPay platform and can be
for e-Commerce transactions by using used at more than 4,00,000 RuPay enabled
secure, Verified by Visa. Facility of cash merchant outlets across the country –
withdrawal is not available on this Card including retail stores and online merchants.

B. State Bank EZ pay card & Axis Smart Pay Card

Basis SBI EZ pay card Axis Smart Pay Card

Issuance Fee Rs.150.00+GST depend upon Number of cards expected
from the corporate & Average upload per
Replacement Rs.100.00+GST card.
Card
Rs. 100 plus taxes per card
Transaction at Charges Rs.20.00 per Withdrawal
other ATM's Charges Rs.9.00 per Balance Enquiry High transaction limit.

Reloadable Can Reloadable Rs.10+GST (Nil if reloaded Reloading Fee Rs. 20 plus taxes by the
through CINB) corporate as and when desired, subject to
the maximum balance allowable limit.
Cash State Bank Group ATM in India have No The smart pay card can used at all Axis Bank
Withdrawal Charges, but Transaction at other ATM's ATMs in India as well as at any VISA
they charge certain amount as mention merchant for transaction and with Cash
above transaction.
Transaction at No Charges bys SBI. However, some MEs No charges apply
Merchant may impose a surcharge viz Petrol Pumps,
Establishments railways etc, which would be recovered

Maximum Rs 1,00,000/- (Maximum Amount that can Rs. 500 to Rs. 50,000 in a day, subject to
amount of issue be loaded by paying Cash is limited to available balance in the card.
Rs.50,000/- per month)

Issued with prepaid card issued in Indian Rupees in For smart pay card its also associate with
association association with VISA international VISA

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 Add-on-Cards Add-on-cards not exceeding two in number Easy to use one
to be used by the card holder in case of
loss/misplacement/defacement of the card.

C. SBI Achiever Card and Axis bank Reward Car

Basis SBI Achiever Card Axis Reward Card

Issuance fee Rs.150+ G.S.T. The Issuance Fee for Axis Bank Meal Card
shall depend upon the following factors:
 Number of cards expected from the
corporate
 Average upload per card

Replacement  Rs. 100 plus taxes per card

card charges: Rs.100+ G.S.T.
 Rs. 100 plus taxes per card
Redemption
Charges: Rs.100+ G.S.T.

Reloadable any Reloadable at Rs.10+ G.S.T. Reloadable

number of
times
State Bank Achiever Card is usable at all The Reward Card use at all VISA enabled
Use card merchant establishments at point of sale and merchant outlets across India and has a
anywhere over internet for e-commerce transactions by reloadable facility.
using secure verified by VISA.
Check card Free balance enquiry at State Bank Group Make balance enquiry through Telebanking
balance with ATMs and VISA ATMs (at a charge). or through our Internet Banking service -I
easy connect.

Reduce low cost The entire payment process is streamlined

organization’s with lower distribution and fulfilment costs.
operational
costs
Validity one year starting from the date of issue
10 years from the date of issue.

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Maximum Rs. 500 to Rs. 20,000 in a day, subject to
amount of Rs 1,00,000/- and Minimum 100 available balance in the card. Capping for
issue maximum available balance on Rewards
Card is Rs. 20,000 at any given point of time.

Daily Axis Bank Rewards card can be swiped at

Transaction POS transaction and e-commerce limit is up to any merchant outlet up to a maximum
Limit the balance available in the card. amount equivalent to the balance available
on the Axis Bank Rewards card or Rs.
20,000/-, whichever is lower.

D. State Bank Foreign Travel card & Axis World Traveller Forex Card

Basis SBI Axis

Issuance fee Rs.100+GST Have to open saving account in the
axis bank

Replacement Depend up on country to country-USD2.00,

card charges: Ponds 1.25, Euro-1.60ect

Redemption If the balance in the card is claimed after
Charges: expiry of the card, the balance will be
refunded after deduction of USD-5/GBP-
5/Euro-5/AUD-5/CAD-5/JPY/500/SAR-
20/SGD-6.
Reloadable Reloadable any number of times. With
charges of Rs.50+GST
Load up to 16 of the most widely used
currencies on this single card like UDS,
EUR, GBO, AUD, CAD, SGD, CHF, SEK,
JPY, THB, AED etc.
Saving account holder can reload their
world Traveller Forex Card

Maximum Depend upon need of cardholder

amount of depending on the purpose of overseas visit.
issue Presently, equivalent to USD 2,50,000.00 or
equivalent per financial year for
Education/Employment/Medical/Business
Trip/Tourism/Pilgrimage.
Issued Belong to axis bank only
associate with Issued in association with VISA International
and MasterCard Asia/Pacific Pte. Ltd.

Available for students, tourists, pilgrims, medical needs, Used this card internationally & in

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 and corporate customers Companies, India, at over 30 million shopping
Government Departments, Public Sector outlets and over 100000 e-commerce
Undertakings sites, fore travel, dinning, loading &
entertainment needs
Balance free balance enquiry at State Bank Group Free enrolment to the prestigious
Enquiry ATMs and VISA ATMs (at a charge) Miles & More membership
programme.
Withdrawals Withdrawals are subject to the daily Can withdrawal any time
limits for ATM transaction limits set by the acquirer's bank.

6. LEARNINGS: -
We can issue our workers prepaid cards for official use as a replacement of monthly
approximately payments.
We can also apply this card for gift purpose.
Customers can plan their expenses and use prepaid card according to their need
Customers can also avail prepaid card in spite of their low credit score
We can also distribute salary of employees by using prepaid cards
Prepaid card is also helpful when you traveling and expense according to pre planned.
Prepaid card only usable for the limited purpose but when you want something beyond
then you have to avail other cards.
Prepaid card only usable for specific purpose but when your transaction is high then it
may be not usable.
Maximum amount issue is more in SBI prepaid cards so it may be useful more than axis
bank prepaid cards.
Sometimes prepaid card limit is very less so it may create problem.
Reward prepaid card can be used everywhere so this card can be more usable.
Prepaid cards are better than other cards because it save your money.

7. CONCLUSION: -
After analyses all the pros and cons of prepaid card we can conclude that this card is very useful
for you also prepaid cards avail you more options according to your need, Prepaid Payment
Instruments (PPIs): PPIs are payment instruments that facilitate purchase of goods and services,
including financial services, remittance facilities and prepaid cards also facilitate to use this card

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as per your needs. prepaid card is beneficial for companies where expenses are managed by
employees and workers and it also allow allotment of salaries without using bank accounts.
sometime prepaid card creates a problem owing to less withdrawal features of it but you can
use this card according to your pre planned expenses and you can save extra expenses. prepaid
cards avail more options like gifts card, traveling card, metro card, reward card so it avails you
better options than other cards.

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