ElectraCard Services ties-up with IndusInd Bank

Private sector lender, IndusInd Bank, on Thursday said it has signed an agreement with ElectraCard Services (ECS), to extend technology and processing services for its credit card business.

Technology and business solutions provider in electronic payments domain, ECS, will provide technology, processes and expertise to cater to various aspects of credit card programme of the bank, a statement issued by the bank said.

The service, which has come into effect from June 1, offers a bouquet of products such as comprehensive credit card management solution electraCREDIT, advanced fraud management engine electraGUARD, comprehensive collection solution electraCOLLECT and fraud prevention solution for e-commerce transactions electraSECURE, it said.

"We are confident that this partnership with ECS will enable us to provide value-adds to our customers with products and services that are innovative, reliable, secure and cost effective," IndusInd''s Chief Operating Officer, Paul Abraham, said.

IndusInd Bank had recently announced its foray into the credit card business, after acquiring a leading foreign bank''s credit card business in India, the release said.

"As technology partners, our focus will be to ensure a smooth migration and assist IndusInd Bank to deliver a credit card programme which enhances customer experience. We are confident, that the bank, like our other partners in India and international markets will benefit from our knowledge base and innovative solutions," ECS Chief Executive Officer, Ramesh Mengawade, said.