Dual-use remittance card launched
A global money transfer firm has launched a new remittance card in India in partnership with the State Bank of India, which can be used for both receiving remittances from abroad and making withdrawals at ATMs.
The State Bank Xpress Money Card, which will initially be available in Kerala and eventually cover other States, is a product of partnership between Xpress Money, State Bank of India and UAE Exchange and Financial Services Ltd.
The card is a prepaid product which combines features of both debit and remit as it allows users to receive remittances from abroad and can also be used at ATMs and for e-commerce transactions, said a statement released here. — PTI