Unlike other credit cards which require credit history, the company says this credit card requires customers to load money in rupees as security and also track balances in Indian currency.
MakeMyTrip’s fintech arm TripMoney and SBM Bank India have launched a rupee-denominated secure credit card, TripMoney Global Card. The credit card offers various advanced money management features. It also offers overseas travellers from paying mark-up on forex conversions and more. The launch of this card comes at an opportune time as the world reopens its borders for Indian travellers in the coming weeks.
Unlike other credit cards which require credit history, the company says this credit card requires customers to load money in rupees as security and also track balances in Indian currency. In addition, the card carries no hidden charges such as currency exchange conversion across POS, ATMs, and eCommerce websites – offering transparency to travellers. The TripMoney Global card offers multiple value-added benefits including Zero forex mark-up, lifetime free validity, 100 per cent digital in-app card management, etc.
The Global card, powered by Visa, can be used across 150+ countries. The card is targeted at international travellers, including the student population, who prefer a combination of lifestyle benefits with advanced digital money management features.
Rajesh Magow, Co-Founder and Group CEO, MakeMyTrip, says, “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 travelling experience of our customers. TripMoney’s Global card empowers Indian travellers with a safe, transparent, and swift money management solution that can be accessed anytime and from anywhere.”
Key benefits of the card;
To allow travellers to save more and earn rewards when travelling international, cardholders are entitled to offers on flights, hotels and holidays, along with a chance to avail discounts of up to Rs 70,000 on MakeMyTrip and Goibibo. Complimentary membership of the invite-only loyalty programs of both the brands, MMT Black and GoTribe is also extended as an add-on to these cardholders.
The card has been designed with several built-in advanced security features such as instant lock and unlocks through the app – when travelling. The app further allows travellers to set transaction limits for multiple payment modes to prevent any fraud, options to locate the nearest ATM booths, view transaction history, raise queries on any transaction and more – in just a few taps.
Neeraj Sinha, Head – Retail and Consumer Banking, SBM Bank India, says, “To facilitate a seamless, memorable holiday experience, it is critical to ensure a trusted and secured financial ecosystem – so that the travellers can enjoy the destinations, without worrying about their financial needs. With the borders opening up, TripMoney Global Card will help travellers 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.”