Paytm launches forex services

Last Updated: Wed, Jul 11, 2018 15:43 hrs
Advertisements of Paytm, a digital wallet company, are seen placed at stalls of roadside vegetable vendors in Mumbai

New Delhi: Payments-wallet services provider Paytm on Wednesday said it has launched foreign exchange services in 20 international currencies.

It would offer "multi-currency forex card and forex cash", Paytm said in a statement.

"This offering allows to lock-in the current rates at the time of placing an order by making a two per cent partial payment with the flexibility to make the remaining payment at the time of delivery," it said.

Further, the customer would not have to pay commission, service charge or other hidden charges on their purchases and cash withdrawals, the company said.

Customers can load up to $250,000 in a financial year into the forex card and buy up to $3,000 as currency notes, it added.




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