Axis Bank, a market leader in travel currency cards, today announced the launch of the world’s first Forex prepaid card issued in conjunction with Diners Club International, a business unit of Discover Financial Services. The Forex Card will run on the Discover Global Network, the third largest payments network in the world, providing card holders with global acceptance.
The strategic alliance delivers widespread acceptance in key markets including the United States and North Asia, by utilizing Discover Global Network partnerships with China’s Union Pay, Japan’s JCB and South Korea’s BC Card, among others. In all, the Discover Global Network includes more than 35 million merchant locations and more than 1 million ATM and cash access locations across 185 countries. The card offers a bouquet of privileged services and benefits to travelers, including access to more than 600 Diners Club airport lounges globally.
The EMV chip embedded card will make payments more secure. The card comes at no additional cost to customers and is available at the same price as Axis Bank’s existing Forex Cards.
Speaking on the occasion, Mr. Sidharth Rath, President & Head, Treasury, Corporate & Transaction Banking, said, “Axis Bank continues to be the market leader in the Prepaid Forex Card category. Our focus has always been on improving and enhancing value for our customers. The addition of new travel corridors through the Discover Global Network and Diners Club International, especially in the United States and North Asia, will greatly complement our existing network and provide convenience to travelers through wider acceptance.”
Annie Zhang, Vice President, APAC Region, Business Development at Discover Financial Services, said, “Diners Club International continues to enable our franchises to provide unique card options to their customers that enhance the experience and broaden acceptance for travelers. By leveraging the Discover Global Network and its many partners, issuers like Axis Bank can provide flexibility for their card holders as they travel across the globe.”