Paytm has today launched a forex service that supports 20 international currency. The company says that users will be able to request for either a multi-currency forex card or forex cash. Paytm is also promising delivery of the forex card/cash to your doorsteps within 48 hours.
“We learned that our customers usually are in a need of a trusted and seamless forex service for themselves,” Abhishek Rajan, Vice President — Paytm said. “We considered this as an important opportunity for us and are delighted to launch a convenient way of buying Forex Service on our platform. This is in line with our goal to be the most preferred destination for all travel needs.”
Paytm’s forex card is said to work with most ATMs around the world. The company is also promising that users won’t have to pay any commission, service charge or hidden charges when making any purchases or cash withdrawals. Paytm’s forex service lets users load up to $250,000 (approximately Rs 1.7 crore) into the card in a financial year. Alternatively, they can buy cash up to $3,000 (approximately Rs 200,000) in the same period.
How to get a Paytm forex card
Paytm’s forex services are currently only restricted to the web. So you will have to head over to paytm.com/forex to order the card or cash. The service will soon be rolling out to the iOS and Android apps.
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To place an order, one will have to pay two percent of the forex amount. The rest of the amount can be paid later via NEFT or RTGS. Once the order has been successfully placed, the card/cash will be delivered to your doorsteps within 48 hours.