SBI, MasterCard Launch Multi-Currency Card for Millions of Indian Travelers (Sept. 8, 2014)
The State Bank of India (SBI) and MasterCard today launched a multi-currency travel card for business professionals, tourists and students traveling abroad. Travelers can obtain the chip-and-PIN card at 100 bank branches in Mumbai, Delhi, Chennai and Bangalore, and the cards can be loaded with U.S. dollars, euros, British pounds and Singapore dollars. SBI said more bank branches will be offering the card in the future, and that the program eventually will include additional foreign currencies that can be loaded onto the card.
“Outbound travel from India is growing at a rapid pace, with 35 million people traveling outside India,” said S. K. Mishra, deputy managing director of corporate strategy and new business, SBI. “This is expected to grow to 50 million in 2020.” The reloadable prepaid card provides access to balance information and transaction history online or through a dedicated customer service center. The card also provides free access to exclusive benefits and offers globally that are unique to MasterCard members.
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