NiYO offers zero forex markup debit and credit cards that enable Indian travelers to make international transactions without incurring additional fees, ensuring seamless spending in over 130 currencies across 180 countries. The platform also provides travel-related services, including visa processing and flight bookings, simplifying the financial aspects of traveling abroad.
Funding
$179.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Indian travelers often face high foreign exchange (forex) markups when using traditional debit or credit cards for international transactions, leading to increased costs and reduced spending power. Managing finances across multiple currencies can also be cumbersome, requiring travelers to carry cash or multi-currency cards.
Solution
Niyo provides debit and credit cards designed for international travelers, offering zero forex markups on transactions in over 130 currencies across 180 countries. The platform eliminates the need for multi-currency cards by allowing users to spend directly in the local currency at VISA exchange rates without additional fees, saving up to 5% on every transaction. Niyo cards can be used for card swipes, online payments, and ATM withdrawals abroad, and the Niyo app provides 24/7 support and real-time balance updates.
Target Audience
Niyo primarily targets Indian residents over 18 years of age who travel internationally for leisure, business, or education.
Features
- Zero forex markup on international transactions, ensuring savings of up to 5% compared to traditional cards.
- Accepted in 180+ countries, supporting transactions in 130+ currencies.
- Real-time balance tracking and transaction notifications via the Niyo app.
- 24/7 in-app customer support for immediate assistance.
- Option to temporarily lock/unlock the card or specific transaction channels for enhanced security.
- Airport lounge access at 1300+ airports outside India with qualifying international spends.
- Integration with travel services such as visa processing and flight bookings.