MARKHAM, ON, DECEMBER 8, 2020 – Everlink Payment Services Inc. in partnership with ICICI Bank Canada, is pleased to announce the launch of the Visa Debit Affiliate program for Everlink card issuance customers. This relationship brings together ICICI Bank’s strong expertise in innovative solutions and its global partnership with Visa along with Everlink’s tenured knowledge and expertise in delivering turnkey card issuance and management services. This announcement comes on the heels of ICICI Bank’s successful launch of their Visa Debit program in Canada to their own cardholders, which went live in October.

The Visa Debit affiliate program provides both issuers and their clients with numerous advantages and choices. From an issuer perspective, the Visa Debit Affiliate program will also bring a new revenue stream in the form of Visa interchange fees derived from online/e-commerce and cross border POS purchases. In addition to the Interac Flash interchange program, credit unions and banks will continue to benefit from the Everlink Optional Issuer Fee program. The Visa Debit Affiliate program will also protect customers against disintermediation from store valued accounts. Furthermore, all Visa Debit transactions will be monitored under Everlink’s eDETECT™ and eSCORE™ fraud monitoring platform. Visa Debit is also backed by Visa’s Layers of Security – which includes Address Verification Services (AVS), CVV2, Verified by Visa and more, so issuers and their clients can have peace-of-mind.

Members / clients will enjoy the convenience of a “one stop shop” debit card that gives them a variety of payment options ranging from traditional contact, contactless and online shopping acceptance. Credit Union members and bank cardholders will also benefit from worldwide payment acceptance at all domestic and international merchants that accept Visa. Furthermore, members and clients will be able to view their accounts online or in the mobile banking application without redirect.

“It’s been a pleasure to work with ICICI Bank Canada to bring the Visa Debit Affiliate program to market. We are very excited to deliver this program and its many benefits to our customers.” says Mark Ripplinger, President and CEO of Everlink. “We feel the delivery of this program is especially timely, amidst the challenges presented by the COVID-19 pandemic. Over the last few years we have witnessed a significant shift in card payments from brick and mortar stores to online, a trend which has only been accelerated over the last 8 months as members and cardholders seek alternative ways to shop.”

“ICICI Bank Canada has been at the forefront when it comes to technology adoption in the banking industry. In the current situation, we are witnessing an accelerated shift towards digital world, which has resulted in record growth in online spending. ICICI Bank Canada and Everlink are spearheading the Visa Co-Badged Debit Card adoption with other financial institutions to drive card payments growth in Canada. We hope to extend the benefits to a larger customer base and deliver the best in class experience,” says Sandeep Goel, President & CEO, ICICI Bank Canada.

Everlink & ICICI Bank Canada are also pleased to announce that both Connect First Credit Union and Sunova Credit Union have decided to join the Visa Debit Affiliate program, targeting launch in 2021. For further information about the partnership or the Visa Debit affiliate program, please contact your Everlink Account Executive.

Everlink Payment Services Inc. is a leading provider of comprehensive, innovative and integrated payments solutions and services for credit unions, banks, and SMEs across Canada. In addition to supplying best‐in-breed technology infrastructure and payment network connectivity, we offer a comprehensive range of integrated payments Lines of Business including: Payment Network Gateway, ATM Managed Services, Card Issuance & Management, Fraud Management Solutions, Mobile Payments, Professional Services and SME Solutions.

About ICICI Bank Canada

ICICI Bank Canada is a wholly-owned subsidiary of ICICI Bank Limited, which has its headquarters in Mumbai, India. ICICI Bank Limited (NYSE: IBN) is a leading private sector bank in India. ICICI Bank Canada is active in all provinces and territories and conducts business as a full-service direct bank under Canada’s Bank Act, catering to retail, commercial and corporate clients. The strategy primarily revolves around building a competitive edge by offering innovative solutions and creating an ecosystem through partnership for the target segments.

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