YES BANK partners Affordplan to launch health card and wallet integration
This is to enable families plan and manage their finances for their healthcare needs.
YES BANK in partnership with Affordplan, a Delhi-based fintech company specialising in healthcare, announced the launch of ‘Swasth Card’, a co-branded healthcare card, under Swasth programme in its endeavor to enable families plan and manage their finances for their healthcare needs.
In addition, YES BANK’s wallet has also been integrated on Affordplan Swasth to enable wallet QR scan for making payments to merchant partners empaneled on the Affordplan Swasth app.
Key features and benefits of the YES BANK and Affordplan ‘Swasth’ programme:
Access to goal-based savings projection chart for medical treatment based on treatment inputs
Access to healthcare services and treatments at a discounted price
No documentation required to apply for the card, full KYC to be done within 24 months
Flexible recharges from Rs 100 up to a maximum balance of Rs 1 lakh
Cashback benefits offered enable savings on expenses related to OPD consultation, diagnostics, medicines and In-Patient Department (IPD) treatments
Access to loan facilities for IPD treatments, in case a customer faces liquidity issue. The loan for the treatment is disbursed directly to the hospital
Basic cover against accidental hospitalization, disability, or death. The program has an inbuilt rewards platform which provides wellness related products and services in the form of rewards and incentives to customers
Contactless, eliminates cash transactions for the safety of customers at hospitals and pharmacy stores
Speaking on the launch, Anita Pai, Chief Operating Officer, YES BANK, said, “At YES BANK, we believe that technology can be used for the benefit of communities and this partnership with Affordplan is a step towards enabling a connected but contactless healthcare payment system. As the country unlocks in phases, it becomes imperative to reimagine the possible and innovate to adapt to the new normal.”
Tejbir Singh, CEO, Affordplan, said, “We believe everyone has a right to access quality healthcare In India. Affordplan Swasth is an initiative that has the power to become an agent of change to bring an equal opportunity for curative care to the marginalized and non-marginalized alike. COVID has already exposed the financial hardships that a family goes through in times of medical emergencies and hence, the need for such a product is strongly reinforced.”
To apply for the card, customers can activate the YES BANK integrated wallet on the Affordplan Swasth. Through this RuPay prepaid card, ‘Swasth’, customers can manage their family’s healthcare needs by accessing a comprehensive offering of financial products on Affordplan Swasth. Equipped with a chip-enabled card, digital wallet, goal-based savings, loans, and insurance, Swasth program extends a 360-degree access to a family seeking curative as well as preventive care. Loaded with multiple financial benefits, hospital-backed offers, and rewards on shopping with a partner network, the program packs a powerful punch, helping reduce customers’ medical bills through cashback benefits and offers at hospitals and pharmacies.
For hospitals, the proposition bridges the gap between the customer and institution through a loyalty program offering CRM, analytics, and marketing support. Payments through the app are enabled by YES BANK wallet in hospitals, labs, and pharmacy stores, helping reduce the risk associated with handling physical cash.