August 21, 2019
Customers will now be able to buy Forex Travel cards Online at the exact interbank rate with Zero Exchange Margin
Free doorstep delivery across major cities in India
The Contactless Visa card will require the customers to 'just tap to pay'
BookMyForex.com, the world’s first and largest marketplace for foreign exchange and remittances, announces the launch of a Co-branded Multi-Currency Forex Travel card in partnership with YES Bank and Visa to offer a seamless experience to Indian overseas travellers. Customers will now be able to buy Forex Travel Cards at the click of a button on the BookMyForex platform and get free doorstep delivery across major cities in India. Further, to promote sale of forex travel cards over forex currency notes, BookMyForex will offer Zero Margin or exact Inter-Bank rates 24×7 on Forex card sales. BookMyForex is also offering new age and increasingly popular contactless cards that allow a user to simply tap their card on a POS terminal, a must-have feature in countries such as the UK where some merchants only allow contactless payments.
BookMyForex Multi-Currency Forex Card
Sudarshan Motwani, Founder and CEO, BookMyForex.com said, “We are on a mission to bring complete transparency in foreign exchange rates and promote cashless forex transactions. BookMyForex-YES Bank card allows us to offer customised payment solutions to suit varying requirements of international travellers. We shall soon be launching several new variants of this card that will allow never-before features. Customers will soon be able to manage the Travel cards via the BookMyForex Mobile App, greatly improving the end-user experience. We have been able to become the market leader in retail forex by offering transparent rates and a state-of-the-art transaction tracking system to the customers and we will continue to offer products and services that will delight the international travellers.”
Ritesh Pai, Chief Digital Officer, YES Bank said, “YES Bank is pleased to partner with BookMyForex to provide efficient digital payment solutions coupled with value added services to customers while travelling abroad. Such a partnership reinforces trust of industry players in the Bank and stands testament to its digital first approach in implementing new age banking solutions for the ease of its
Murali Nair, VP and Head of Business Development, India, Visa said, “People who travel overseas and to different countries often have to manage multiple currencies in cash and worry about the threat of loss or theft. We are delighted to partner with YES Bank and bring India’s first co-branded Multi-Currency Travel Prepaid Card to the customers of BookMyForex. They can now travel and use these cards in any part of the world without worrying about their money’s safety.”
Madhusudanan R, Managing Director, M2P Solutions P Ltd. said, “With the burgeoning foreign travel of Indian’s for leisure or work, the Money Card anchored around customer convenience and security will enhance the overall experience of using Foreign currency travel cards. We are pleased to partner with YES Bank and BookMyForex to roll out this product in India.”
The card’s distinctive features provide travellers total control of their card at their fingertips. Travellers can load up to 10 currencies on the card. With the accompanying mobile app that will be rolled out by BookMyForex soon, customers will be able to get real-time notification alerts and view the INR equivalent of all spending amounts. Customers will also be able to track their currency wise balances, locate surcharge-free ATMs nearby and reload their travel cards while on the go. Additionally, in case of suspicious transactions, the card can be easily locked/ blocked by the traveller without assistance from customer service. The BookMyForex-YES Bank Multi-Currency Visa card can be booked on BookMyForex’s website or mobile App and delivered across all major cities in India in a controlled delivery turnaround time of just 6 hours or less.
BookMyForex.com is the world’s first marketplace for foreign currency exchange and international remittances. BookMyForex compares exchange rate and service quality standards across hundreds of partner banks and currency exchange companies in real time and connects customers with the most economical and reliable forex vendor around them. Customers no longer have to approach multiple forex vendors and haggle for better rates. BookMyForex uses proprietary technology to ensure that our customers not only get the best value on their forex deal but also the best and most reliable service. BookMyForex started sale and distribution of forex travel card business only a couple of years back mainly to hitherto unaddressed retail segment and is already amongst the top seller of forex card product. Headquartered in Gurgaon, BookMyForex offers pick-up and delivery of forex products in 650+ cities through channel partner network of over 5000 branches across India.
For more information, please visit www.bookmyforex.com.
About YES Bank
YES Bank, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES Bank has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES Bank operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 29 states and 7 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at www.yesbank.in.
About M2P Solutions Private limited
M2P Solutions Private Limited, which operates under the brand YAP, is a digital payment solutions platform. YAP has been at the forefront of driving innovative mobile led payment solutions across South Asia and Middle East markets. The product offering includes Prepaid cards, Digital wallets, QR, Toll Payments, UPI, with a specific focus on Program Management to help businesses adopt digital payments in an efficient manner.
For more information, please visit www.m2p.in.