India’s third largest private sector bank, Axis, has launched a pre-paid travel currency card for students in association with The International Student Identity Card (ISIC). It is the first photo travel card available to Indian students in USD, Euro, GBP and AUD currencies that can be used at over 2 million MasterCard ATMs worldwide.
Offered in currencies reflecting popular study destinations for Indian students, the Axis Bank– ISIC Forex Card will help secure funds for Indian students studying abroad while acting as credible proof of identity across 125 countries.
Sidharth Rath, President Treasury, Business Banking and Capital Markets of Axis Bank confirmed that the card is “designed to offer combined benefits of Travel Currency Cards and ISIC’s wide range of discounts”.
It is the first photo travel card available to Indian students in USD, Euro, GBP and AUD currencies
Axis plans to release 5,000 cards this year with aims to double the offering to 10,000 by 2014.
India joins the USA, Hong Kong and Argentina in offering students the MasterCard supported ISIC that functions as a regular ATM card using a 4-digit pin to authorize transactions. The design includes the name of the student, ISIC license number, where the student is enrolled, the date of birth and a photograph.
Each card is valid for two years and in addition to discount offers at cultural sites, museums and restaurants, students will receive competitive exchange rates.
Launched 60 years ago, the ISIC card has grown to be the world’s most recognised student identification endorsed by UNESCO. Some 5 million cards were issued last year, with the Czech Republic, the Netherlands and France leading sales in 2012.
Earlier this year, organisers launched a new “virtual identity card” allowing students to search online for local concessions and ISIC Mastercard holders to top-up funds and check their balance via the interface.
