The money transfer platform has opened the waitlist for the card which is aimed at Indian’s travelling abroad.
,India’s travel market has expanded significantly in recent years and travellers spent almost $17bn while abroad last year, according to data from the Reserve Bank of India (RBI).
,However, Indian travellers also lose over $200 on a $5000 trip if using traditional bank cards, claims Wise.
,“India is growing incredibly fast as a travel market, but the products we use when we’re abroad haven’t kept up with the needs of today’s savvy Indian travelers,” said Taneia Bhardwaj, South Asia expansion lead at Wise.
,In June, Wise received in-principle approval from the RBI to operate as a cross border payment aggregator for export transactions.It also opened a full stack hub in Hyderabad, its second in the Apac region.
,The announcement, which coincides with the Global Fintech Festival in Mumbai, also comes just days after Revolut announced plans to launch a payments platform in India.
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