THE INCREASE POPULARITY OF PREPAID CARDS AMONG TRAVELLER IN INDIA

This year about half a million cards have been issued so far in India




According to CentrumDirect Ltd, an indian financial services company.  there was a 27% growth in card volumes.  More travellers are using prepaid cards in order to avoid the high exchange rates.
Along with low exchange rates, prepaid cards also have a security feature – they are chip-based and come with a back-up card.  So there is no fear of being stranded abroad without any credit.

Currently, CentrumDirect issues their cards through an online portal as an authorized dealer through a couple of banks. The market size for prepaid forex cards is around $2 billion. About 70% of this gets spent abroad while the rest is exchanged back in India.

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