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The Worldwide travel card, a forex card with zero forex markup features is eyeing 10 fold growth in one year as more number of students pursuing superior studies in foreign universities and other travelers are signing up for its services due to cost advantages of 4% to 5%, a top company executive stated. With the descend semester at foreign universities starting soon, the Niyo card has come versatile for contemplative parents and their students.
While using the card, the students do not have to pay any currency exchange premium and global deal fees like they do for a standard forex card, in addition, the NIYO worldwide card also offers instant digital on boarding , suitable loading from the user’s bank account by means of IMPS/NEFT, Vinay Bagri, co- founder and CEO, Niyo solution inc as stated. Approximately 50000 customers have previously signed up for the card and we are set to a board half a million users by April 2020 he stated.
On the attractiveness of the card between the student community, he stated. This is one section that nobody caters today. Students have to go throughout a lot of official procedure right from university selection to fees payment and finding adjustment. We attempt to make the life of the students hassle free when it comes to their forex requirements he stated. On Niyo worldwide card students have absolute control on transactions and security throughout the Niyo worldwide mobile application.
Approximately 50,000 customers have already signed up for the card and we are set to aboard half a million users by April 2020 he stated. On the reputation of the card surrounded by the students community he stated. This is one segment that no one caters today. The Students have to go throughout a lot of rules and formalities right from university assortment to fees payment and finding Accomodation. We endeavor to make the life of the students aggravate free when it comes to their forex necessities he stated.
India is the second prime source of worldwide students subsequent to China, with over 3,00,000 students at present studying abroad. They spend about $3 billion annually. As stated by the RBI spending on hostel fees and tuition by the students has increased from $1.7 billion in 2013-14 to $2.8 billion in 2017-18 up 44% .