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Paytm To Launch FX Services To Exchange 20 Different Currencies

Paytm gained massive exposure in 2017 after the company looked to fill the digital payment space in the market created by the de-monetization campaign carried out by the BJP Government. Paytm has grown its market presence significantly during the last 18 months with a number of new projects and the company continues to follow that pattern by now launching forex services.

One97 Communications Limited which owns Paytm recently signed a partnership with CentrumDirect, which is a forex subsidiary belonging to Ebix Inc. The partnership will allow Paytm to offer forex money exchange services covering over 20 different currencies to its massive client base in India.

Paytm’s market base in India spans more than 200 million customers and continues to grow with each passing month. The new service will allow customers to order forex cash and forex cards from Paytm which will be then delivered directly to the customer within a 48 hour period. Customers will also have the option of picking up their forex cards or forex cash at any of the Paytm outlets located across the country.

The new forex service has already gone live via the Paytm website and will soon be available via the popular Paytm app which can be downloaded on both Android and iOS platforms.

CentrumDirect Partnership To Boost Paytm Presence

CentrumDirect also has a commanding presence in India with more than 200 franchise partners, 160 plus outlets spread across 55 cities and more than 2,000 travel agents. The firm is responsible for carrying out nearly 70 percent of all forex related transactions that take place at Indian airports.

In a statement, T.C. Guruprasad, Managing Director for CentrumDirect said

We are delighted to partner with a reputed player like Paytm. Currently, we serve over 1.5 million transactions annually and our alliance with Paytm will further strengthen our client base. Paytm users will be able to benefit from our competitive exchange rates, a wide range of currencies and a dedicated post-sales service team.

The Paytm forex card will enable customers to purchase up to $3,000 in forex currency notes and load as much as $250,000 on to their forex card in a financial year. This forex card will be accepted by ATMs and merchant outlets all over the world and will give users the option of checking their forex card balance online or via an ATM.

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