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Paytm launches Forex services; offers 20 international currencies

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Paytm has announced the launch of its Forex service, for money exchange of 20 top international currencies on its platform. The company received the authorized dealership (AD Category II) from the Reserve Bank of India in April. In a statement, Paytm said that the multi-currency (prepaid) Forex card and Forex cash can be ordered on a real-time basis, which can either be delivered to the user's location within 48 hours or can be collected from any of its partnered seller’s outlets across India. Customers can load up to $250,000 in a financial year into the forex card, while the limit on currency notes is limited to $3000, Paytm said. Paytm’s explained that customers can lock-in the prevailing exchange rates at the time of placing an order by making a 2% payment, with the flexibility to make the remaining payment at the time of delivery.…

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