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Paytm introduces Forex Services, with Forex Card and Currency Notes

The mostly used Payments app, Paytm has introduced foreign exchange services in 20 International currencies and it is accessible via the Android and iOS apps soon, the company said.

Paytm said "multi-currency forex card and forex cash,
They can be ordered on real-time basis, and delivered within 48 hours or collected from a partnered seller". Paytm said "This offering allows to lock-in the current rates at the time of placing an order by making a 2 percent partial payment with the flexibility to make the remaining payment at the time of delivery."

The customer would not have to pay commission, service charge or other hidden charges on their purchases and cash withdrawals, the company said. Customers can load up to $250,000 (roughly Rs. 1.7 crores) in a financial year into the forex card and buy up to $3,000 (roughly Rs. 2 lakhs) as currency notes, it added.

Abhishek Rajan, Vice President-Paytm says " We learned that our customers usually are in a need of a trusted and seamless forex service for themselves. We considered this as an important opportunity for us and are delighted to launch a convenient way of buying Forex Service on our platform. This is in line with our goal to be the most preferred destination for all travel needs"

inputs from IANS

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  1. Wow going idea Paytm
    Thank God I am waiting for this long back


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