Worldline, a provider of payments and transactional services, has expanded its footprint in Bhutan with launch of a prepaid card for Bank of Bhutan (BOB).
The new offering is touted to be the first INR prepaid card launched in Bhutan solely by a Bhutanese bank.
Licensed by the Royal Monetary Authority of Bhutan (RMA), the card will be available to Bhutanese citizens in INR (Indian Rupee) currency.
Featuring PIN and EMV chip for secure transactions, the card can be load with maximum INR 50,000 ($747.77) per month for individual expense and for business trips, to meet the RBI/FEMA regulations.
The cardholders can check balance and withdraw cash from any ATM, as well as make payments at POS terminals across merchant locations in India.
The card members will not have to pay any fees in account of foreign exchange conversion charges.
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Worldline will assume the responsibility to issue; manage, as well as process application and transaction for the prepaid card.
Worldline managing director for South Asia and Middle East Deepak Chandnani 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.”