KCB Bank Kenya, in partnership with Mastercard, has officially released Kenya’s first multi-currency prepaid card. This unique technology is intended to simplify international transactions, allowing clients to spend easily in several worldwide destinations.
This card, designed to address the different demands of students, sports, online shoppers, corporations, and corporations, offers a low-cost way to manage overseas transactions. It makes frequent travelers and global spenders more comfortable by lowering excessive transaction fees.
The card supports 11 major currencies such as Kenyan Shilling, US Dollar, British Pound Sterling, Euro, Swiss Franc, Australian Dollar, Canadian Dollar, Indian Rupee, Japanese Yen, South African Rand, and Chinese Yuan.
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Angela Mwirigi, Director of Digital Financial Services at KCB Bank Kenya, stated, “The launch of this card marks a significant step in strengthening our long-standing partnership with Mastercard. This collaboration brings together two industry leaders, combining our expertise, innovation, and shared vision to offer exceptional financial solutions that align with our goal of being the bank of choice in Kenya.”
The prepaid feature allows cardholders to load specific amounts, providing better spending control. Users can manage their prepaid balances through a self-serve portal on the website. Real-time exchange rates automatically convert currencies during purchases, eliminating the need for multiple wallets or currency exchanges.
Once enrolled, cardholders will benefit from favorable exchange rates and reduced conversion costs, eliminating unexpected charges and simplifying global spending. The card’s ability to manage multiple currencies removes the need for separate currency accounts or physical cards, ensuring greater convenience and security.
Shehryar Ali, Senior Vice President and Country Manager for East Africa at Mastercard, remarked, “We are excited to partner with KCB Bank Kenya to launch the country’s first platinum multi-currency prepaid card, which offers the highest number of currencies. This historic milestone is a significant step in redefining global commerce. Our solution simplifies cross-border transactions, allowing individuals and businesses to focus on what truly matters. At Mastercard, we are committed to fostering secure, flexible, and accessible payment ecosystems that drive global opportunity.”
Source: itnewsafrica.com
