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BookMyForex Partners with YES Bank to Launch Forex Card on Visa network

Posted On: 2019-08-21 11:59:55

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 24x7 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.

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 customer."

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.

Shares of YES BANK LTD. was last trading in BSE at Rs.71.25 as compared to the previous close of Rs. 76.7. The total number of shares traded during the day was 10451647 in over 35828 trades.

The stock hit an intraday high of Rs. 77 and intraday low of 70.55. The net turnover during the day was Rs. 755490764.


Source: Equity Bulls

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