Karur Vysa Bank Pvt. Ltd. is partnering with payments provider enStage Inc. to launch a prepaid travel card in India, the bank announced in a Sept. 16 statement.
EnStage’s will manage and provide the back-end infrastructure for the Visa-branded KVB Travel Card, according to the statement. The bank is offering the card in three currencies–U.S. dollars, Singapore dollars and the euro.
Designed for international travelers, consumers may use the travel card at any merchant or ATM globally linked to Visa’s network, except those in India, Nepal and Bhutan, which are covered by India’s domestic banking system.
New customers may apply for the card at any Karur Vysa branch. They may load into the card account a minimum of US$100, SG$100 or 100 euros, after which they may load any amount. Cards expire after five years and come with no fees.
Travelers returning to India may exchange remaining value for Indian rupees or transfer the funds into their domestic account.
Karur Vysa operates a network of 335 branches and deploys 376 ATMs, while Bangalore-based enStage provides management services and the back-end infrastruture for prepaid cards, mobile payments and electronic payments.
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