Mumbai, May 19: HDFC Bank Apollo Medical Benefits Card is a co-branded prepaid card to be launched soon in India. This allows companies to distribute medical allowance to their employees.

One of the largest financial organizations in India, the HDFC bank is going to collaborate with Apollo Hospitals to launch a prepaid co-branded card. Named “HDFC Bank Apollo Medical Benefits Card” this will allow corporations to easily distribute medical allowance to their employees. This will also help employees to save both time and money to claim medical allowance.

Coming to feature, with the help of this card, business firms now can deposit specified allowance for each employee. It can be used for any medical expenditure at pan-India VISA/MasterCard outlets.

Addressing to press, HDFC Senior Executive Vice-President and Business Head, Cards Payment Products and Merchant Acquiring Services, Parag Rao said, “This card offers an easy and convenient way for corporates to save costs and eliminate administrative issues while disbursing medical allowances.”

Apollo Executive Vice-Chairperson Shobana Kamineni said, “The Medical Benefit card is a win-win for employees, who benefit from cashless transactions for healthcare with unmatched savings, and the employer in terms of transparency, compliance and transaction cost saving.”

She also added that, all companies along with their employees will get benefit from this HDFC Bank Apollo Medical Benefits Card and also can and shift to this card in the future.

This is purely innovative and first of its kind offered by any bank in India. Talking about some additional benefits, employees can get discounts and facilities, including free ambulance services.

According to HDFC bank, this card will be implanted with a free accidental death insurance and accident hospitalization insurance. You can also get discounts in any Apollo associated firms like Apollo Hospitals, Apollo Pharmacies, Apollo Clinics and Apollo White Dental throughout India.