BookMyForex ties up with YES Bank, Visa to launch forex card

BENGALURU: Marketplace for foreign exchange BookMyForex has partnered with YES Bank and card payment company Visa to launch a co-branded multi-currency foreign exchange card that aims to offer a smooth payments experience to Indians travelling abroad.

The Gurugaon-based startup said it will offer zero margin or exact inter-bank rates on purchases made through the forex travel card in an effort to promote their sale over currency notes.

“The card allows us to offer customised payment solutions to suit varying requirements of international travellers,” said Sudarshan Motwani, founder and CEO at BookMyForex. “We shall soon be launching several new variants of this card that will allow never-before features.”


BookMyForex is also offering new age contactless cards to allow users to pay through the ‘tap and go’ feature. It will also offer a mobile app to give control over the use of the card to consumers, who can set limits on transactions and load up to 10 currencies. They can even block the card in case it is lost or stolen.

“Customers will soon be able to manage the travel cards via the BookMyForex mobile app, greatly improving the end-user experience,” said Motwani.