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Niyo partners SBM Bank, Visa for digital savings account

MUMBAI: Fintech company Niyo, in association with SBM Bank India and Visa, on Friday said it now offers a digital savings account with Niyo Global.

Along with zero forex mark-up, customers can now earn interest on the savings account, it said, adding that Niyo Global has a legacy of serving over 300,000 customers in the last two years and with this latest development aims to simplify foreign exchange spending for international travellers and students.

“There is also a plan for rapid expansion in market share by listing partnerships with major travel aggregation companies and OTA’s. Niyo Global is already the go-to product for all students, and aims to achieve similar dominance in the leisure travel category too,” it said.

As per the statement, Indian passport holders can enjoy all the features of Niyo Global card like zero forex markup on car rentals, flight and hotel bookings, live currency conversion and ATM locator on the app.

Vinay Bagri, co-founder and chief executive of Niyo, said, “We are delighted to partner with globally-recognised entities like SBM Bank (India) and Visa. The Niyo Global is now upgraded to full service digital bank account for global citizens, and we believe that our premium offering will promote a smart way of travelling in the new normal.”

Neeraj Sinha, head (consumer and retail banking) at SBM Bank India, said, “At SBM Bank, we believe the age of #SmartTravel is upon us. In a new normal world, it is imperative to redefine the traditional products through a customer-first and user-friendly perspective. This is exactly what we are aiming at through our partnership with Niyo.”

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