MUMBAI: Private lender Axis Bank's Travel Currency Card programme in tie-up with Visa has become the first card in the country to touch $1-billion in volume.
Under the programme, business and leisure travellers load money in local currency of the destination they are travelling to and can use the pre-paid amount securely for meeting travel expenses.
Axis Bank's Executive Director, S K Chakrabarti, said, "(Our customers) have loaded in excess of $100-million onto their cards over April and May this year alone."
Even though credit cards remain a favourite with international travellers, a study done by Visa has found over 40 per cent of business travellers saying they used prepaid cards on trips, Visa India said in a release, adding the demand for pre-paid cards in growing.
http://economictimes.indiatimes.com/news/news-by-industry/services/travel/visa-power/Axis-Visa-traveller-card-touches-1-bn-in-volume/articleshow/6257829.cms
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