Rel Money launches multi-currency card for overseas travellers

MUMBAI: Anil Ambani Group firm Reliance Money said it has launched a multi-currency card which would offer facility of purchasing goods and services through Visa enabled point-of-sale terminals and ATMs globally.

Reliance Money Travel Currency Card has been launched in collaboration with Citibank and targets overseas travellers, as a superior alternative to travellers cheques, Reliance Money said in a statement.

"Issued by Citibank, the card offers all the conveniences of plastic money by allowing customers to purchase goods and services by swiping the card over 13.5 million Visa enabled point-of-sale terminals worldwide and 900,000 Visa ATMs across the world," Reliance Money said.

According to the company, travel currency card would be a multi use, prepaid (ATM access & point-of-sale-enabled) card, loadable in US dollar, euro and British pound.

"We plan to use our wide distribution network of over 10,000 outlets across 5,000 cities and towns in India to reach out to both retail and corporate clients," Reliance Money CEO (OTC Business) Jhuma Guha said. MORE

According to the firm, although the card may be denominated in dollar, euro and pound, but it can be used in the local currency of any country of visit.

"This form of payment method provides ease of use, removes hassles of cashing traveller cheques and gives access to funds, anytime and anywhere," Citibank India Business Manager (Cards) Sandeep Bhalla said.