Unlike other credit cards which require credit history, the company claims that this credit card requires customers to load money in rupees as collateral and also track balances in Indian currency.
TripMoney, the fintech arm of MakeMyTrip, and SBM Bank India have launched a secured rupee-denominated credit card, TripMoney Global Card. The credit card offers various advanced money management features. It also offers foreign travelers to pay a markup on currency conversions and more. The launch of this map is timely as the world reopens its borders to Indian travelers in the coming weeks.
Unlike other credit cards which require credit history, the company claims that this credit card requires customers to load money in rupees as collateral and also track balances in Indian currency. Additionally, the card has no hidden fees, such as currency conversion at POS, ATMs, and e-commerce websites, providing transparency for travelers. The TripMoney Global card offers multiple value-added benefits including zero forex markup, free lifetime validity, 100% digital in-app card management, and more.
The Global card, powered by Visa, can be used in over 150 countries. The card is aimed at international travelers, including the student population, who prefer a combination of lifestyle benefits with advanced digital money management features.
Rajesh Magow, Group Co-Founder and CEO, MakeMyTrip, said: “As part of our vision of a super travel app, we continue to actively invest in creating products and solutions to improve the travel experience. of our customers’ overall travel. TripMoney’s Global Card offers Indian travelers a safe, transparent and fast money management solution that can be accessed anytime and from anywhere.
Main advantages of the card;
To allow travelers to save more and earn rewards when traveling abroad, cardholders are entitled to offers on flights, hotels and holidays, as well as a chance to receive discounts up to Rs 70,000 on MakeMyTrip and Goibibo. Free membership in both brands’ invitation-only loyalty programs, MMT Black and GoTribe, is also extended as an add-on to these cardholders.
The card has been designed with several advanced security features built-in, such as instant locking and unlocking via the app – when traveling. The app further allows travelers to set transaction limits for multiple payment methods to prevent fraud, options to locate nearest ATMs, view transaction history, raise questions about n’ any transaction and more – with just a few clicks.
Neeraj Sinha, Head – Retail and Consumer Banking, SBM Bank India, said: “To facilitate a smooth and memorable holiday experience, it is essential to ensure a reliable and secure financial ecosystem – so that travelers can enjoy the destinations, without worry about their financial needs. With the borders open, TripMoney Global Card will also help travelers open up a world of financial possibilities. Additionally, we now have a burgeoning segment of study abroad students who are new to credit but have lifestyle aspirations.
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