Private sector lender Axis Bank's Travel Currency Card Program which came with a tie up with Visa has touched a volume of $ 1 billion. This is the first card in India to touch the level.
The program brings the facility of loading money in local currency by both business and general travellers which they can use in prepaid form for meeting expenses while travelling.
Axis Bank's Executive Director S K Chakrabarti said: "(Our customers) have loaded in excess of $100-million onto their cards over April and May this year alone."
Although credit cards are widely used by travellers, prepaid cards have been found to be a more favored choice by travellers.