Private Kenyan lender I&M Bank has collaborated with MasterCard, to launch the multi-currency Prepaid travel cards in Sub-Saharan Africa, which will assist frequent travelers to change currencies while saving on foreign exchange transactions.
Cardholders can carry three currencies, including US dollars, Sterling pounds and Euros on a single card, while providing users a secure and convenient mobile wallet for cashless transactions.
Speaking on the occasion of the card launch, I&M Bank chief executive Arun Mathur said that the new card’s multi-currency function would give cardholders the flexibility needed when travelling to different parts of the world.
"Cardholders can load up to 10,000 USD on each wallet, or this equivalent in Pounds or Euros, with the possibility of multiple uploads, thus removing the need to carry or convert cash when travelling" Mathur added.
Apart from receiving all core card services globally including card replacement, cash disbursement, and lost/stolen card reporting, cardholders can access more than 34 million MasterCard points of sale terminals in over 210 nations.
Established in 1974 as a financial services provider and registered as a commercial bank in 1996, I&M Bank delivers an array of corporate and retail banking services to large and small business customers as well as individuals.