TripMoney, MakeMyTrip’s fintech arm, and SBM Bank India are launching a rupee-denominated credit card for Indian outbound travelers, it was reported by Phocuswire.
Called TripMoney Global Card and powered by Visa, the secured credit card allows customers to load money and track balances in Indian rupees without requiring credit history. The card has no hidden charges such as currency exchange conversions across point of sale, ATMs and e-commerce websites and can be used in more than 150 countries.
The card is targeted at international travelers, including students, looking for a combination of lifestyle benefits with advanced digital money management features.
With the TripMoney Global Card, card members can gain access to flight, hotel and holiday offers, as well as discounts on MakeMyTrip and online travel service Goibibo. Cardholders can also receive complimentary membership to both brands’ loyalty programs as an add-on service.
“As part of our travel super app vision, we continue to actively invest in building products and solutions with an aim to elevate the overall traveling experience of our customers,” says Rajesh Magow, co-founder and group CEO of MakeMyTrip.
“TripMoney’s global card empowers Indian travelers with a safe, transparent and swift money management solution that can be accessed anytime and from anywhere. We are excited to partner with SBM Bank India and look forward to introducing a new way of managing expenses for Indian outbound travelers.”
Neeraj Sinha, head of retail and consumer banking at SBM Bank India added, “India is going places – both in terms of the aspirations it carries as well the number of tourists it sends globally. To facilitate a seamless, memorable holiday experience, it is critical to ensure a trusted and secured financial ecosystem – so that the travelers can enjoy the destinations, without worrying about their financial needs.
“At SBM Bank India, we are elated to join hands with TripMoney to extend a cashless worry-free financial product to global travelers. With the borders opening up, TripMoney Global Card will help travelers open up a world of financial possibilities as well. Further, we now have a burgeoning segment of students studying abroad who are new to credit but have lifestyle aspirations.”
