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LIC Cards Services Ltd (LIC CSL) has launched a contactless prepaid gift card 'Shagun' in collaboration with IDBI Bank on the RuPay platform.

The purpose of this card is to expand the gift card market with an intent to promote cashless ways of gifting and present a wide range of end-use choices and in future foray into the market of e-gift cards, LIC CSL said in a statement.

Shagun card, in the initial phase, will be available to LIC and its subsidiaries for official use. The card will be used to facilitate awards and special rewards during official conferences and functions.

The Shagun gift card offers customisation in the form of flexible loading of any amount ranging from Rs 500 to Rs 10,000. With this card, the customer can perform multiple transactions within the validity of 3 years.

With the wide acceptability of RuPay, the Shagun gift card can be used at millions of merchant outlets and e-commerce websites in India to diversify spending options on the card. The card will provide users the freedom to make purchases at various merchant locations including departmental stores, petrol pumps, restaurants, jewellery stores, apparel stores, etc, the company statement added.

They can also use it shop online, pay utility bills, book tickets for air, rail, bus, and so on through various mobile wallets and E-commerce portals or apps using this card. The contactless (tap & go) feature of the card is aimed at transforming the transaction experience for users.

The card comes pre-wrapped, ready for gifting, and also has the provision to include personalised messages for the recipient. It gets auto-linked to a feature-rich mobile app 'm-passbook' giving real-time access to transaction history, card balance, etc. Also, a dedicated in-house customer support team will be available 24x7 for any customer grievances.