Corporate Trips Push Sales of Travel Cards

Press Release   •   Jun 17, 2013 15:11 IST

Travel cards are the fastest growing segment of the Indian prepaid card market. With rising corporate trips to foreign countries, travel cards offer the most suitable option of carrying multiple currencies on a single card. The added benefits of travel cards have made them popular amongst the corporate clients. Numerous private and public sector banks have come up with lucraive options to enhance the sales of travel cards. The travel card market in India is growing at a CAGR of around 45% during 2012-2017.

Biggest advantage of travel cards is the locked-in exchange rate at the time of card loading which hedges the user against currency fluctuations. Cash dispensing facilities at ATMs and card swiping while shopping also lure customers towards travel cards. As the awareness about prepaid products increases, the travel card consumption shall grow to grab the share of travelers cheques and cash in the coming years. Banks are promoting prepaid cards to enhance their fee based incomes. Besides, travel cards are also poular among students studying abroad and leisure travelers.

RNCOS research report titled “Indian Prepaid Card Market Outlook to 2017”, provides insights on the global and Indian prepaid card market. Current and future growth prospects of key market segments such as travel cards, payroll cards, multipurpose cards, remittance cards and other cards have been presented keeping in view the influencing factors and expert opinions. Consumer perception mapping depicts the percentage share of most demanded services by end users such as utility bill payments, rail/air ticketing, DTH subscriptions etc. Describing the industry trends and challenges, the research report also contains the business profiles and product portfolio of leading banking and non-banking players in the prepaid card industry.

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM493.htm

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