There is good news for world travelers. Public sector bank, Punjab National is to launch World Travel Card. The bank has already introduced Global Credit Card earlier this year in February. Now, the company has planned to introduce World Travel Card for globetrotters.

Chief General Manager of PNB from credit card venture division, Ranjan Dhawan said to ET,

“It would be the safest and the convenient currency instrument to carry. Instead of carrying traveller’s cheque or global currency like Dollar or Pound, the World Travel Card holders would be able to withdraw local currency convertibles from any bank ATM of respective countries they visit. The holder has to pre load the card with the amount he would like to carry.”

The World Travel Card of Punjab National Bank will be introduced by November this year. This card would be pre-loaded with that amount which you want to carry along with on your tours of world.

You will be able to withdraw relevant currency of that country where you are traveling. This can be Dollar, Pound, Euro or Yen. It is just like a credit card that will be for tourists. The card will make your way easiest. Now, you needn’t to worry about currency converter. You are free to carry that currency which you want to carry. That will be relevant to your traveling country.

Yes, the World Travel Card is very good thing for world travelers but surly, it is not a new product. Recently, Reliance Group had also introduced the same card that was known as Reliance Money Travel Currency Card. The card was also for travelers. It was also equipped with multi currency.

So, there is no new offer by PNB as World Travel Card but surly, it is incorporated offer to make easier world traveling. The World Travel Card will be available for travelers only.

Reliance Money announced to launch a multi-currency card that would offer facility of purchasing goods and services. It would be Visa enabled point-of-sale terminals and ATMs also globally.

It is Reliance Money Travel Currency Card. It has been launched in collaboration with Citibank. Reliance Money Travel Currency Card will target overseas travelers.

In a statement Reliance Money said to Economic Times, “Issued by Citibank, the card offers all the conveniences of plastic money by allowing customers to purchase goods and services by swiping the card over 13.5 million Visa enabled point-of-sale terminals worldwide and 900,000 Visa ATMs across the world.”

According to Reliance Money the Travel Currency Card would be for multi use – prepaid ATM access & point-of-sale-enabled card, loadable in US dollar, Euro and British pound.

CEO of Reliance money said to ET about it, “We plan to use our wide distribution network of over 10,000 outlets across 5,000 cities and towns in India to reach out to both retail and corporate clients.”

On this occasion Sandeep Bhalla who is the Business Manager (Cards) of Citibank India said, “This form of payment method provides ease of use, removes hassles of cashing traveler cheques and gives access to funds, anytime and anywhere.”

Already a month before Standard Chartered bank had launched a new credit card which will be known as SmartTravel FX. The card was also a gold pre-paid travel card with payment option of making payment in US dollar, Euro and Sterling Pound.

In credit cards industry Travel Currency Card is same like as SmartTravel FX. These credit cards will attract customers by their benefits and features. Reliance Money has entered with this card as a big competitor of Standard Chartered bank.

Last month, many banks had announced to launch credit cards by open a fixed deposit. Now, this month Standard Chartered bank has announced to launch a new credit card which will be known as SmartTravel FX. The credit card will be gold pre-paid travel card which will offer an option of making payment in US dollar, Euro and Sterling Pound.

Sai Narain who is the general manager of Standard Chartered’s from Consumer Transaction Banking said with Economic Times, “the new SmartTravel FX card combines extraordinary convenience with safety. The currencies in which the card is denominated are universally accepted, which makes the card valid across most countries Indians travel to.”

The card will offer pre-loaded subjects limits by Reserve Bank of India for international traveling. The credit card specially will fulfill the need of traveling across the world with the easiest option of currencies transaction.

On the other hand LIC announced to launch its own credit card this month. According to the B R Bhat who is the General Manager of Corporation Bank said that the date is not decided to launch but the LIC credit card will be launched soon.

The credit card was pre-decided to launch in January but due to some formalities completion it is taking some time. With the white-labelled credit card LIC has tied-up with Karnataka-based Corporation Bank.

Forms and contents have not been revealed of LIC’s credit card but it seems that the card will be for all purposes like other cards. However, SmartTravel FX has been launched with well decision by Standard Chartered bank.

In the credit cards market there are many option now to explore the growth rate so, big companies like LIC, Reliance etc. are coming with new offer for their customers. No doubt, LIC will get succeed in this industries also because it has own loyal customers and employees to use that.