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Paytm launches Foreign Exchange Services

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New Delhi: Payments-wallet services provider Paytm on Wednesday said it has launched foreign exchangeservices 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 percent 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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