SYNOPSIS: The company received VISA’s in-principle approval for its Forex Card program, marking progress in digital expansion, with the company preparing for launch pending final regulatory requirements under the BIN sponsorship model.
During Wednesday’s trading session, shares of one of the vibrant and trusted brands widely recognised in the field of Foreign Exchange surged more than 3 percent on BSE, after securing approval from VISA for the launch of its Forex Card program.
With a market cap of Rs. 91 crores, shares of Prithvi Exchange (India) Limited are trading at Rs. 110 on BSE, compared to its previous closing price of Rs. 111.45. The stock has delivered negative returns of over 20 percent in the last one year, and has fallen by around 10 percent in one month.
What’s the News
According to its latest regulatory disclosure, Prithvi Exchange (India) Limited has received an in-principle approval from Visa for the launch of its Forex Card program, marking a key milestone in its product and digital expansion strategy.
The approval reflects Visa’s preliminary validation of the company’s compliance framework, operational readiness, and customer onboarding processes, allowing Prithvi Exchange to move ahead with the rollout, subject to completion of final requirements under the BIN sponsorship model of issuance.
The proposed Forex Card is expected to offer a secure, convenient, and globally accepted payment solution for travellers, students, and corporates. This initiative is likely to further strengthen Prithvi Exchange’s position in the evolving forex and cross-border payments landscape.
The development is aligned with the company’s broader objective of building a technology-driven and diversified forex ecosystem, integrating its traditional forex services with modern digital payment offerings.
Going forward, the company remains focused on completing the remaining formalities and accelerating the launch, with the aim of delivering a seamless and future-ready forex experience to its customers.
Financials & More
Prithvi Exchange reported a significant growth in consolidated revenue from operations of more than 27 percent, from Rs. 716.4 crores in Q3 FY25 to Rs. 912.6 crores in Q3 FY26. However, its net profit decreased during the same period from Rs. 0.7 crores to Rs. 0.66 crores, representing a marginal fall of around 4 percent YoY.
Prithvi Exchange (India) Limited deals in all tradeable foreign currencies, traveller cheques, drafts and SWIFT transfers. It offers products including buying & selling of all major foreign currencies, travel currency cards, remittances abroad, foreign currency demand drafts, family expenses maintenance and travel insurance.
The company is licensed by the RBI to function as an Authorised dealer Category II, along with an authorised agent to receive Money Transfer sent through Western Union Money Transfer, MoneyGram and Xpress Money. It caters to a diverse range of customer segments, including corporate travellers from industries such as IT, manufacturing, and services, as well as celebrities and government organisations.
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