New Delhi, July 11: Digital payments platform Paytm has now ventured into forex services for top 20 international currencies.
Paytm has introduced forex service for money exchange of 20 international currencies on its platform in partnership with Centrum Direct, said the company in a press release.
Consumers will be able to order the multi-party Paytm forex card or cash in foreign currency either for doorstep delivery or at retail outlets of Paytm. The company said that though the service is available only through the website, it will be enabled on apps as well.
ET had written in its April 16 edition that Paytm had applied for the forex licence to start these operations.
"We have been witnessing an unprecedented growth for international travel bookings on our platform. We learned that our customers usually are in a need of a trusted and seamless forex service for themselves hence this as an important opportunity for us," said Abhishek Rajan, Vice President – Paytm.
Rajan further added that customers can actually lock in the current rates at the time of placing and then order by actually paying 2% and the remaining at the time of delivery. Customers can load up to $250,000 in a financial year into the forex card and buy up to $3000 as currency notes.
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