Worldline Launches Prepaid Currency Card for Bank of Bhutan
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- Worldline expands its footprint in Bhutan with a prepaid currency card for Bank of Bhutan
- Card management which includes card issuing as well as application & transaction processing will be done by Worldline
- This is the first INR prepaid travel card launched in Bhutan solely by a Bhutanese bank
25.10.2016, Mumbai: Worldline [Euronext: WLN], the European leader in the payment and transactional services industry, announced its expansion in Bhutan with the launch of a prepaid currency/travel card for Bank of Bhutan (BOB), the largest commercial bank in the country. The card will be available to citizens of Bhutan in INR currency and is the first prepaid card launched by Bank of Bhutan and licensed by the Royal Monetary Authority of Bhutan (RMA).
On this PIN based prepaid card, the maximum amount that can be loaded into the card is INR 50,000 per month for individual expense as well as for business trips, as prescribed under extant RBI/FEMA regulations. With this card, the user can conveniently make balance enquiries and withdraw cash from any ATM in India, as well as make payments at POS terminals across merchant locations in India. Moreover, with this card, there is no loss of foreign exchange on account of conversion charges.
This prepaid card can be used by any customer should he be, or not, a Bank of Bhutan account holder. Managed by Worldline, these EMV chip-based cards are more secure than magnetic stripe cards and will enable travelers from Bhutan to make cashless transactions in India. Worldline undertakes the issuing of cards as well as application processing and transaction processing for the credit card.
Speaking about the association and expansion in Bhutan Deepak Chandnani, Managing Director, Worldline South Asia & Middle East said, “We are glad to associate with Bank of Bhutan and launch the first prepaid card in the country. Worldline will be responsible for card issuance and management and will bring its world class standards to this product too. The card is designed to provide convenience and security to the cardholder when using it in India .Instead of carrying large amounts of cash, one can simply load the card in Bhutan and make purchases and withdrawals across India. We are happy to provide our services to Bank of Bhutan and look forward to more such partnerships in the country.”
Speaking on the launch of the credit card, Mr.Pema N Nadik, CEO, Bank of Bhutan, “Bank of Bhutan is the first bank in Bhutan to launch its own prepaid card offering. The card is yet another product that complements the other services we have for our customers’ growing retail needs. In issuing the card we are happy to have Worldline as a partner, to give our customers a product that is at the forefront of technological advancement. It is our continuous endeavor to make payments easily accessible, acceptable and secure for all customers.”
Worldline [Euronext: WLN] is the European leader in the payments and transactional services industry. Worldline delivers new-generation services, enabling its customers to offer smooth and innovative solutions to the end consumer. Key actor for B2B2C industries, with over 40 years of experience, Worldline supports and contributes to the success of all businesses and administrative services in a perpetually evolving market. Worldline offers a unique and flexible business model built around a global and growing portfolio, thus enabling end-to-end support. Worldline activities are organized around three axes: Merchant Services & Terminals, Mobility & e-Transactional Services, Financial Processing & Software Licensing including equensWorldline. Worldline employs more than 8,600 people worldwide, with estimated revenue of circa 1.5 billion euros on a yearly basis. Worldline is an Atos company. worldline.com