India’s Axis Bank has rolled out a multi-currency, cobranded forex card in collaboration with Miles & More, a frequent flyer and awards programme in Europe.
Dubbed Miles & More Axis Bank World Traveller Card, the new card facilitates both international and domestic usage while rewarding customers with unlimited miles on every transaction.
Touted to be India’s first cobranded multi-currency forex card, the new offering is powered by MasterCard’s contactless chip security with ‘Trip Assist’ and lost card liability cover of up to INR300,000 ($4,498.5).
Axis Bank and non-Axis Bank customers can avail the card and load up to 17 currencies to avoid the hassle and risk of carrying multiple currency note variants.
The card also features an INR wallet that allows customers to retain their card balance in local currency and use the same at POS terminals in India. It also offers easy fund transfer across currency wallets, reload of funds and tracking spends through Axis Bank’s mobile app & Internet Banking.
Axis Bank group executive of corporate and transaction banking Sidharth Rath said: "Axis Bank continues to be the market leader in the Prepaid Forex Card category. Our focus has always been on improving customer experience and enhancing value for our customers.
"This innovative forex card offering from Axis Bank is aimed at providing the Indian globetrotter a host of privileges with a truly rewarding experience."