MakeMyTrip said on Wednesday its fintech arm, TripMoney and SBM Bank India have joined hands to launch a rupee-denominated secure credit card, TripMoney Global Card.

The company said this credit card is ‘highly secure’, offers various advanced money management features, and relieves overseas travellers from paying mark-up on forex conversions.

MakeMyTrip said unlike other credit cards which require credit history, this secured credit card requires customers to load money in INR as security and also track balances in INR. The company said the card carries no hidden charges such as currency exchange conversion across POS, ATMs, and e commerce websites. The TripMoney Global card, powered by Visa, can be used across 150+ countries. The card is targeted at international travellers, including the student population, who prefer a combination of lifestyle benefits with advanced digital money management features, the company said.

Rajesh Magow, co-founder and group CEO at MakeMyTrip, said as part of the company’s travel ‘super app vision’, it is continuing to invest in building products and solutions with an aim to elevate the overall travelling experience of its customers. “TripMoney’s Global card empowers Indian travellers with a safe, transparent, and swift money management solution that can be accessed anytime and from anywhere. We are excited to partner with SBM Bank India and look forward to introducing a new way of managing expenses for Indian outbound travellers,” he added.

Neeraj Sinha, head of retail and consumer banking at SBM Bank India, said to facilitate a seamless and memorable holiday experience, it is critical to ensure a trusted and secured financial ecosystem so that the travellers can enjoy the destinations, without worrying about their financial needs. “With the borders opening up, TripMoney Global Card will help travellers open up a world of financial possibilities as well. Further, we now have a burgeoning segment of students studying abroad who are new to credit but have lifestyle aspirations,” he added.