Prithvi Exchange, a Chennai-based foreign exchange service provider, will soon launch forex cards under its own name.
The company, which currently is an authorised reseller of forex cards from banks like ICICI and IndusInd, said that its own cards will be launched by the first quarter of FY27.
Speaking to businessline,Pavan Kavad, Managing Director, Prithvi Exchange, said that issuing cards under the company’s own brand name will allow it to control factors like pricing and user experience. “It becomes more economical compared to a bank. We will have full control over the pricing without bank-imposed markups, allowing cheaper rates and making us more competitive in the market,” he said.
Meanwhile, Kavad said that despite digitisation the demand for cash still persists. “Bank servers may fail or the card readers may not work at a local shop in a different country. There is a psychological safety in carrying cash,” he said.
The company also operates 32 physical stores with a footprint in both metros and Tier 2 & 3 cities like Coimbatore, Trichy, Indore, Lucknow, Surat, Chandigarh and Bhubaneswar.
Currently Prithvi Exchange’s revenue mix includes about 50 per cent from currencies, 30 per cent from sales of cards and 16 per cent from remittances.
On the wider travel and forex market, Kavad said that while the post-Covid travel surge brought about significant demand, especially with travel abroad becoming more economical and even comparable to domestic tourism, the recent geopolitical issues have caused some stress.
Published on March 28, 2026