UAE Exchange, a leading global provider of remittance and foreign exchange services, is planning to launch multi-currency prepaid travel card services in India.
Dubai-based UAE Exchange has launched a new offering ‘gocash’ – the Middle East’s first multi-currency prepaid travel card – and expects to launch similar prepaid products in other markets such as India, a top executive said.
The new product was launched in partnership with MasterCard in Dubai and allows the customers to load up to six currencies out of a bouquet of 15. The card can be used across 34.3 million MasterCard-enabled merchant locations and 1.5 million bank ATMs across the globe, apart from for online purchase, UAE Exchange said in a statement.
“We are expecting to provide similar offerings to our customers in other markets such as India,” UAE Exchange’s Chief Operating Officer (Global Operations) Y Sudhir Kumar Shetty said.
UAE Exchange has operations in 30 countries with more than 650 branches, making it the largest globally networked remittance brand in the world. It also has correspondent banking relationship with more than 150 global banks.