Worldline launches prepaid currency card for Bank of Bhutan
01 November 2016 | 2171 views | 0
Worldline [Euronext: WLN], the European leader in the payment and transactional services industry, announced its expansion in Bhutan with the launch of a prepaid currency/travel card for Bank of Bhutan (BOB), the largest commercial bank in the country.
The card will be available to citizens of Bhutan in INR currency and is the first prepaid card launched by Bank of Bhutan and licensed by the Royal Monetary Authority of Bhutan (RMA).
On this PIN based prepaid card, the maximum amount that can be loaded into the card is INR 50,000 per month for individual expense as well as for business trips, as prescribed under extant RBI/FEMA regulations.With this card, the user can conveniently make balance enquiries and withdraw cash from any ATM in India, as well as make payments at POS terminals across merchant locations in India. Moreover, with this card, there is no loss of foreign exchange on account of conversion charges.
This prepaid card can be used by any customer should he be, or not, a Bank of Bhutan account holder.Managed by Worldline, these EMV chip based cards are more secure than magnetic stripe cards and will enable travelers from Bhutan to make cashless transactions in India. Worldlineundertakes the issuing of cards as well as application processing and transaction processing for the credit card.
Speaking about the association and expansion in Bhutan Deepak Chandnani, Managing Director, Worldline South Asia & Middle East said, “We are glad to associate with Bank of Bhutan and launch the first prepaid card in the country. Worldline will be responsible for card issuance and management and will bring its world class standards to this product too. The card is designed to provide convenience and security to the cardholder when using it in India .Instead of carrying large amounts of cash, one can simply load the card in Bhutan and make purchases and withdrawals across India. We are happy to provide our services to Bank of Bhutan and look forward to more such partnerships in the country.”
Speaking on the launch of the credit card, Mr.Pema N Nadik, CEO, Bank of Bhutan, “Bank of Bhutan is the first bank in Bhutan to launch its own prepaid card offering. The card is yet another product that complements the other services we have for our customers’ growing retail needs. In issuing the card we are happy to have Worldline as a partner, to give our customers a product that is at the forefront of technological advancement. It is our continuous endeavor to make payments easily accessible, acceptable and secure for all customers.”