YES Bank, a leading financial institution in India, has taken a momentous stride in the digital commerce arena by unveiling the ONDC Network Gift Card. This milestone establishes YES Bank as the country’s first bank to offer such a card, marking a significant partnership with the Open Network for Digital Commerce (ONDC) and signaling a monumental shift in the way Indians shop.
The ONDC Network Gift Card spearheads the democratization of digital commerce. In stark contrast to conventional gift cards confined to specific brands or stores, this revolutionary concept empowers customers to use the gift card for purchasing products from any brand or seller across a diverse spectrum of categories. This includes food, fashion, handicrafts, electronics, home essentials, health, and wellbeing. This pioneering approach eliminates the constraints traditionally associated with gift cards, granting consumers unprecedented freedom of choice.
One of the most thrilling facets of the ONDC Network Gift Card lies in its openness to sponsorship and utilization by both corporate entities and individual customers. This flexibility enables businesses to extend thoughtful gestures to their customers and employees, while individuals can employ the card for gifting to their loved ones. Whether it’s a special occasion or an expression of appreciation, this card offers a versatile and meaningful way to convey goodwill and gratitude.
The ONDC Network Gift Card leverages the Rupay network, a homegrown payment system in India known for its reliability and affordability, making it the preferred choice for digital transactions. By utilizing Rupay, YES Bank ensures that the ONDC Network Gift Card remains accessible to a wide array of users throughout the country.
To cater to a range of spending needs, the ONDC Network Gift Card offers flexibility in terms of the load limit. Customers can load amounts varying from small purchases to substantial shopping sprees, with the card accommodating loads up to Rs 10,000.
Ajay Rajan, Country Head – Digital & Transaction Banking at YES BANK, expressed his thoughts on the launch of the ONDC Network Gift Card, noting, “With the launch of the ONDC Network Gift Card, customers can relish an unrestricted shopping experience during the ongoing festive season.” The card is poised to become the preferred choice for gifting and shopping, enhancing the festive spirit for all.