ICICI Bank Unveils Corporate Sapphiro Forex Card with Visa

ICICI Bank and Visa announced the launch of the Corporate Sapphiro Forex Card, a prepaid forex card designed to empower India’s entrepreneurs and corporate leaders travelling abroad for work. This first-of-its-kind card for business travellers integrates the flexibility of a prepaid forex card powered by Visa Infinite offerings, curated lifestyle benefits, unmatched convenience and value for frequent travellers.

The Corporate Sapphiro Forex Card offers premium travel and lifestyle benefits, a first-time offering on a corporate prepaid forex card linked to the Bank’s current account.  The exclusive benefits valued at over ₹15,000 includes two complimentary visits to international airport lounges, ‘Meet and Assist’ services that enable business travellers to have a seamless airport experience and exclusive travel and lifestyle discounts. The card offers the freedom and convenience of loading and transacting in 15 currencies. It also offers zero cross-currency mark-up charge, allowing customers to conveniently travel across the globe, even if they load only one currency on the card. The welcome kit comes with two cards – a primary and a replacement card. The replacement card acts as a back-up just in case the primary card is misplaced.

Entrepreneurs and sole proprietors having current account with the Bank can now apply, activate and load the card digitally and instantly through InstaBIZ, the Bank’s business banking app. It will shortly be available for employees of large corporates. This makes ICICI Bank the only bank in India to offer an end-to-end digital journey for business banking customers in the forex card space. The feature to apply, activate and load the card will shortly be available on Corporate Internet Banking.

Speaking about the new card, Mr. Vipul Agarwal, Head - Cards & Payment Solutions, ICICI Bank, said, “We are delighted to partner with Visa to expand our range of forex cards into a new category of premium forex card for business travellers. As the Indian businesses and corporates expand internationally, we envisage the need for a premium forex card linked to the business account with exclusive features. The digital journeys on InstaBIZ and Corporate Internet Banking will enable business travellers to apply, load and manage their cards on the go. Accordingly, this India-first innovation of the Corporate Sapphiro Forex Card is tailored for business owners and brings attractive benefits from Visa Infinite platform to a prepaid forex card, for the first time in Asia.”

Speaking at the launch, Ms. Shruti Gupta, Head, Commercial and Money Movement Solutions, Visa India and South Asia, said, "We are delighted to partner with ICICI Bank to launch the Corporate Sapphiro Forex Card. This partnership reiterates the commitment of Visa and ICICI Bank towards innovation in business payments and curated customer experiences. This prepaid forex card offers a unique blend of flexibility, control, and Visa’s infinite benefits, backed by the reliability, security, and worldwide acceptance of Visa.”

Key benefits for business travellers:

·         Travel redefined:

• Two complimentary international airport lounge visits
• Meet & Assist services for smooth airport experiences
• Complimentary international eSIM card offered by Visa
• Three ATM fee waiver every month on cash withdrawals

·         Unmatched value: Zero cross-currency markup for transparent and cost-effective global transactions

·         Digital experience:

• Instant application and activation via InstaBIZ
• Real-time loads for uninterrupted usage

·         Exclusive privileges: Preferential rates and offers with top global hotel chains and airlines 

The Corporate Sapphiro Forex Card comes at a joining fee of ₹2,999 + GST. To know more about the card, please visit https://www.icicibank.com/business-banking/cards/forex-cards/corporate-sapphiro-forex-prepaid-card. To apply, load and manage the card, ICICI Bank customers can log into the InstaBIZ app.