Centrum Direct launched CentrumPay payment Solution to Help Foreigners from Cash Crunch

Centrum Direct launched CentrumPay payment Solution to Help Foreigners from Cash Crunch, Due to the demonetization move of the government, the foreign exchange outlets at the airport are facing cash shortage which in turn is causing inconvenience to the foreign travelers in and out of the country.According to the latest directive from the Reserve Bank of India (RBI) on November 25, 2016,

foreigners can exchange foreign currency for Indian notes up to a limit of Rs 5,000 per week till December 15 after submitting a self-declaration that they have not availed the facility during the week.

iii. To provide some relief to the foreign tourists, the Forex player Centrum Direct has launched CentrumPay which is a unique mobile wallet which also offers a physical card to withdraw money from any ATM or POS.

iv. Centrum Direct which is the forex arm of the city-based leading financial services company Centrum Group, deal in Foreign Exchange & Money Transfer services.

Features of CentrumPay

♦ Foreign tourists will have an alternate channel for making payments as well as avail legal tenders for their forex.The mobile wallet and physical card are combined into a single digital payments solution. MasterCard will issue the cards while Yes Bank will issue the PIN issuer.

♦ Can be used as a virtual mobile wallet for any type of payments for online shopping, taxis, payments at hotels, etc using the QR code or to withdraw cash at any merchant PoS/ATMs which accept MasterCard products as per the permissible limits.

♦ An Indian user can load up to Rs 1 lakh a month, a foreigner can load up to Rs 2 lakh in the walet. Since the card is not linked to any bank account it can be refilled through debit/credit cards or online banking facility of the customer any number of times for a period of five years.

♦ Centrum Direct will charge a flat Rs 150 for a card from both foreigners as well as domestic customers.