MakeMyTrip’s fintech arm, TripMoney partners with SBM Bank India to launch Global Credit Card
MakeMyTrip’s fintech arm, TripMoney partners with SBM Bank India to launch Global Credit Card
The TripMoney Global card offers multiple value-added benefits including Zero forex mark-up, lifetime free validity,100% digital in-app card management and more
Chennai, 23 February 2022: MakeMyTrip’s fintech arm, TripMoney and SBM Bank India have joined hands to launch a rupee-denominated secure credit card, TripMoney Global Card. This value-loaded credit card is highly secure, offers various advanced money management features and most importantly, relieves overseas travellers from paying mark-up on forex conversions and more. The launch of this card comes at an opportune time as the world reopens its borders for Indian travellers in the coming weeks.
Unlike other credit cards which require credit history, this secured credit card requires customers to load money in INR as security and also track balances in INR. In addition, the card carries no hidden charges such as currency exchange conversion across POS, ATMs, and eCommerce websites - offering transparency to travellers. The TripMoney Global card, powered by Visa, can be used across 150+ countries. The card is targeted at international travellers, including the student population, who prefer a combination of lifestyle benefits with advanced digital money management features.
Elaborating on the significance of the card, Rajesh Magow, Co-Founder & Group CEO, MakeMyTrip, said, “As part of our Travel super app vision, we continue to actively invest in building products & solutions with an aim to elevate the overall travelling experience of our customers. TripMoney’s Global card empowers Indian travellers with a safe, transparent, and swift money management solution that can be accessed anytime and from anywhere. We are excited to partner with SBM Bank India and look forward to introducing a new way of managing expenses for Indian outbound travellers.”
Commenting on the launch of the card, Neeraj Sinha, Head – Retail & Consumer Banking, SBM Bank India, said, “India is going places – both in terms of the aspirations it carries as well the number of tourists it sends globally. To facilitate a seamless, memorable holiday experience, it is critical to ensure a trusted and secured financial ecosystem – so that the travellers can enjoy the destinations, without worrying about their financial needs. At SBM Bank India, we are elated to join hands with TripMoney to extend a cashless worry-free financial product to global travellers. With the borders opening up, TripMoney Global Card will help travellers open up a world of financial possibilities as well. Further, we now have a burgeoning segment of students studying abroad who are new to credit but have lifestyle aspirations.”
More benefits of the card
To allow travellers to save more and earn rewards when travelling international, cardholders are also entitled to offers on flights, hotels and holidays, along with a chance to avail discounts of up to INR 70,000 on MakeMyTrip and Goibibo. Complimentary membership of the invite-only loyalty programs of both the brands, MMT Black and GoTribe is also extended as an add-on to these cardholders.
The card has been designed with several built-in advanced security features such as instant lock and unlocks through the app - when travelling. The app further allows travellers to set transaction limits for multiple payment modes to prevent any fraud, options to locate the nearest ATM booths, view transaction history, raise queries on any transaction and more - in just a few taps.
About MakeMyTrip Limited
MakeMyTrip Limited is India's leading online travel company. We own and operate well recognized online brands, including MakeMyTrip, Goibibo and redBus. Through our primary websites, www.makemytrip.com, www.goibibo.com, www.redbus.in, and mobile platforms, travellers can research, plan and book a wide range of travel services and products in India as well as overseas. Our services and products include air ticketing, hotel and alternative accommodations bookings, holiday planning and packaging, rail ticketing, bus ticketing, car hire and ancillary travel requirements such as facilitating access to third-party travel insurance and visa processing.
We provide our customers with access to all major domestic full-service and low-cost airlines operating in India and all major airlines operating to and from India, a comprehensive set of domestic accommodation properties in India and a wide selection of properties outside India, Indian Railways and all major Indian bus operators.
About SBM Bank (India) Ltd
SBM Bank (India) Limited “SBM Bank India” is the first bank to receive a universal banking license from the Reserve Bank of India to set up and operate as a Scheduled Commercial Bank under Wholly Owned Subsidiary (WOS) mode offering banking services in India. SBM Bank India has a network of 8 branches located in Mumbai, Delhi, Chennai, Bangalore, Hyderabad, Ramachandrapuram, Palghar and Ahmedabad. SBM Bank India has profound domain expertise and is led by a core team comprising industry veterans having over a century of cumulative experience in banking and financial services. The Bank offers a diverse suite of universal products and services to its customers which include Deposits, Advances, NRI Services, Treasury Products and Trade Finance Services. SBM Bank India stands poised to embark on a new journey, innovating in every sphere of its business, expanding its service proposition to include an extensive suite of retail and wholesale banking products and capital markets.
