IndusInd Bank taps ElectraCard Services for forex card programme

Source: ElectraCard Services

IndusInd Bank launches foreign currency pre-paid travel card - the Indus Forex card that is designed to offer travellers all the convenience and a secure way of carrying foreign currency abroad.

With this launch, IndusInd Bank is targeting the lucrative travel segment and wants to garner a sizable market share in the next few years. The Indus Forex card comes with an array of exciting features which have been tailor-made to ensure utmost comfort and convenience to the customers. It is available in 6 leading currencies - US Dollar, Euro, Sterling Pound, Singapore Dollar, Australian Dollar and Saudi Riyal. These cards can be used to withdraw cash from ATMs as well as to pay at Merchant Outlets. Customers can track spends or check the balance of Indus Forex card through multiple convenient options.

The card comes with a choice of single or paired card kit. The smart option of a paired card kit equips consumers with an extra back-up card, in case primary card is damaged/ lost / stolen. Indus Forex card is available at select IndusInd Bank branches and with selected partner agents.

IndusInd Bank has partnered with ElectraCard Services (ECS), a leading provider of software solutions for electronic payment systems to launch the Forex card program. As a part of this association, ECS will provide technology and processing services for Forex card program solution and is hosted from its world-class PCI-DSS certified data centre in Mumbai, India.

Mr. Sumant Kathpalia, Head - Consumer Banking, IndusInd Bank said, "As an organization, we are continuously increasing and enhancing our product portfolio to ensure our customers' needs are met extensively. Through a secure, efficient and cost-effective payment system to carry multiple currencies abroad, the travel prepaid card will offer flexibility and reliability to our customers. The association with ECS will assist our customers with technology that is safe & secure and designed by experts of the payments domain."

Speaking on the occasion, Mr. Ramesh Mengawade, CEO, ElectraCard Services said, "We are happy to be associated as technology partner once again with IndusInd Bank for such a large implementation in prepaid card domain. Overseas travel has increased rapidly over the years and customers are increasingly looking for hassle-free and secure options to carry currency during travel. ECS as a technology partner is glad to offer its prepaid processing services to meet the present and future requirements of the customers." 

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