Private sector lender Axis Bank is working on introducing multi currency services to its set of travel cards. The banks is looking towards offering travel credit cards in varied currencies and also couple value added services to them.
Other specialized services are also in consideration by the bank in a bid to make its offering of travel cards more lucrative. One such offering is a product which can be used for availing public transport in Singapore. Yet another service is put forward for people going abroad for studies. This service will be provided jointly with ISEC (International Student Exchange Card).
The bank had made an entry into the travel card segment in the year 2003 and since then has been providing a consistent average annual growth at rate of 40%, informed a bank official.
“This shows the potential for the travel card business. Even a 10 per cent conversion from currency in favour of travel cards will mean a huge rise in volumes,'' the official said.
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