GlobalPay Launches Prepaid Forex Card Portfolio, Transitions to Card Issuer Model
GlobalPay launched a new prepaid forex card portfolio at Global Fintech Festival 2025, transitioning from card distributor to issuer model. The RBI-authorised firm unveiled multiple card variants targeting students, leisure travellers, and corporates, with tokenisation support for contactless international payments. The launch is part of broader transformation including new digital platform and mobile app integrating travel services, leveraging the company's four-decade experience serving over 10 lakh customers and 850+ corporate partnerships.
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GlobalPay has launched a comprehensive prepaid forex card portfolio at the Global Fintech Festival (GFF) 2025, signaling a strategic shift from its traditional card distributor model to becoming a card issuer. The RBI-authorised payments firm positioned the new offering as a core solution for Indian travellers making international payments.
New Card Portfolio Details
The company unveiled multiple card variants designed for different customer segments:
| Card Type: | Target Segment |
|---|---|
| Xplorer Metal Global Card | Premium travellers |
| Smart Switch Card | Multi-purpose users |
| Multi-currency cards | International travellers |
| Co-branded forex cards | Corporate partnerships |
According to the company, all cards support tokenisation on Samsung Wallet and Google Wallet, enabling contactless payments across international markets. The cards are specifically aimed at students, leisure travellers, and corporate clients.
Strategic Business Transformation
The prepaid card launch represents part of a wider transformation at GlobalPay, which includes the rollout of a new digital platform and refreshed brand identity. The company is repositioning itself as a transit-led, cross-border fintech platform that integrates payments with travel-related services.
WSFx Global Pay Limited, operating under the GlobalPay brand, brings significant market presence to this transition:
| Business Metrics: | Details |
|---|---|
| Customer Base: | Over 10 lakh customers |
| Corporate Partnerships: | 850+ corporates |
| Channel Partners: | 650 nationwide |
| Industry Experience: | Four decades in cross-border payments |
| Regulatory Status: | RBI-authorised AD-II entity, BSE-listed |
Integrated Mobile Application
GlobalPay has introduced a mobile application that combines forex card management with comprehensive travel utilities. The app integrates multiple services including global eSIM access, travel insurance, airport lounge entry, and meet-and-assist services. The platform follows a pay-per-use model rather than bundled subscriptions.
Leadership Perspective
Srikrishna Narasimhan, Whole-Time Director and Chief Executive Officer of GlobalPay, described the card stack launch as a structural change in the company's operating model. "By launching our own card stack and expanding digital services, we are now shaping how India moves abroad, not just how it spends abroad," he stated.
Founder Dilip Modi emphasized the evolution reflects changing traveller expectations, noting that "GlobalPay has moved from a forex-led business to a mobility-driven financial platform designed around international travel needs."
Market Context
The transition comes at a time when prepaid and multi-currency cards are regaining relevance for overseas travel amid volatile exchange rates and tighter controls on international spending. GlobalPay's shift from distributor to issuer positions the company to capture greater value in the cross-border payments ecosystem while offering integrated travel solutions to Indian consumers.
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