tripmoney: TripMoney, the fintech arm of MakeMyTrip, partners with SBM Bank India to launch Global Credit Card

MakeMyTrip said on Wednesday that its fintech arm, TripMoney and SBM Bank India have teamed up to launch a secure rupee-denominated credit card, TripMoney Global Card.

The company said the credit card is “highly secure”, offers various advanced money management features and saves foreign travelers from paying a markup on forex conversions.

MakeMyTrip said that unlike other credit cards which require credit history, this secure credit card requires customers to load money in INR as collateral and also track balances in INR. The company said the card has no hidden fees, such as currency conversion at outlets, ATMs and e-commerce websites. The TripMoney 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, the company said.

Rajesh Magow, co-founder and group CEO at MakeMyTrip, said that as part of the company’s travel “super app vision”, it continues to invest in creating products and solutions in the aim to improve the overall travel experience of its customers. “TripMoney’s Global Card offers Indian travelers a safe, transparent and fast money management solution that can be accessed anytime and from anywhere. We are delighted to partner with SBM Bank India and look forward to introducing a new way to manage spending for outgoing Indian travellers,” he added.

Neeraj Sinha, Head of Retail and Consumer Banking at SBM Bank India, said that to facilitate a seamless and memorable vacation experience, it is essential to ensure a reliable and secure financial ecosystem so that travelers can enjoy the destinations. , regardless of 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 students studying abroad who are new to credit but have lifestyle aspirations,” he added.

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