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With an eye on the largely untapped prepaid travel card business in India, American Express has rolled out its global travel cards in the country recently.
The international payments and settlements company has already launched the travel card in Australia, Brazil, South Africa and the US. “The next launch will be in China,” said Mirfin.
The revenue potential of prepaid cards in India will touch $218 million by 2015, according to Global Prepaid Exchange. To boost card usage among globe trotters, American Express will provide merchant offers and discounts of up to 20 per cent in retail, dining and lodging across countries.