Moneycontrol Bureau
State Bank of India has introduced a foreign travel card christened as Vishwa Yatra Foreign Travel Card in Saudi Riyal. The product was formally rolled out today by Hemant Contractor, Managing Director and Group Executive (International Banking), State Bank of India.
The new product has been rolled out for the benefit of overseas travellers to the Kingdom of Saudi Arabia and would particularly benefit over 170,000 Haj and Umra pilgrims over 170,000 and 500,000 respectively from India on annual basis, said Contractor, addressing a press conference here in Mumbai.
The travel card is a reloadable prepaid (store value) card and will help the pilgrims carry the foreign currency like Saudi riyal.
The travel card has been launched in association with Visa International, the payment gateway provider. It shall be usable over a large number of ATMs and Point of Sale (PoS) at merchant establishments such as shops, stores, and hotels. The Pilgrims shall be able to use the Travel Card for withdrawing Cash at ATMs or for shopping directly.
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