Yes Bank, J P Morgan to bring Visa USD travel cards

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{image-Visa USD travel cards_08092008.jpg}Mumbai, Sep 8: Yes Bank and J P Morgan on Sep 8 announced a collaboration whereby Yes Bank would offer Visa US dollar prepaid travel cards to its customers, using J P Morgans's expertise in prepaid card solutions.

Hosted on J P Morgan's proprietary technology platform and supported by its robust processes, the card is an ideal alternative to traditional foreign currency and travellers' cheques. The card provides customers with added security and convenience to make a purchase when travelling. In addition, the card can be used outside of India, Nepal and Bhutan to withdraw cash in local currency at ATMs displaying Visa marks. Commenting on the new strategic partnership, Yes Bank President and Global Head (International Banking) Arun Agrawal said, ''We selected J P Morgan due to its strong commitment, experience and focus in the area of prepaid card products and technology.

This strategic partnership will strengthen our relationship and will allow us to provide our clients with quality cards, without having to build our own infrastructure.'' ''We are very pleased that Yes Bank has chosen to work with J P Morgan on this programme. This arrangement reinforces our commitment to offer innovative products to our financial institution clients in India, enabling them to provide new and efficient products and to be more competitive in their core businesses,'' Percy Batliwalla, J P Morgan Managing Director and Head of Financial Institutions Banks, Asia Pacific commented.


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