Published on January 24, 2025 by Agencies for Kenya Online News
Last Updated on 1 year by Agencies for Kenya Online News
KCB Bank Kenya, in collaboration with Mastercard, has launched Kenya’s only multi-currency prepaid card that supports 11 hard currencies. This innovative solution is designed to simplify international transactions for customers by enabling seamless spending across various destinations.
The card supports an extensive range of currencies including the Kenyan Shilling, US Dollar, British Pound Sterling, Euro, Swiss Franc, Australian Dollar, Canadian Dollar, Indian Rupee, Japanese Yen, South African Rand, and Chinese Yuan.
The card is tailored to meet the diverse needs of students, athletes, online shoppers, businesses, and corporates. It offers a cost-effective method for managing international transactions by reducing high transaction fees and enhancing convenience for frequent travelers and global spenders. Angela Mwirigi, Director Digital Financial Services KCB Bank Kenya noted,
“The launch of this card is a celebration of the strengthening of our long- standing partnership with Mastercard. This collaboration, once again, brings together two leaders in the industry, merging our expertise, innovation, and shared goal to provide exceptional financial solutions living up to our aspirations of being the bank of choice in Kenya,”
Once enrolled, cardholders will enjoy favorable exchange rates and reduced conversion costs that eliminate unexpected charges and simplify global spending. The card’s ability to handle multiple currencies removes the need for separate currency accounts or physical cards, ensuring greater convenience and security.
Additionally, the prepaid feature will allow cardholders to load specific amounts, promoting better control over spending. Users can access this feature through the self-serve portal available on the website, providing a convenient way to manage their prepaid balances and monitor their spending. Real-time exchange rates will also ensure automatic currency conversion during purchases, simplifying transactions and eliminating the hassle of currency exchanges or managing multiple wallets.
Shehryar Ali, Senior Vice President and Country Manager for East Africa at Mastercard, said: “We are delighted to collaborate with our key strategic partner, KCB Bank Kenya in launching the country’s first platinum multi-currency prepaid card offering the highest number of currencies— This is a historic milestone in redefining global commerce. This innovative solution simplifies cross-border transactions, enabling individuals and businesses to focus on what matters most. At Mastercard, we are committed to fostering cutting-edge, secure, flexible, and accessible payment ecosystems that drive global opportunity.”
This collaboration underscores KCB Bank Kenya’s commitment to delivering innovative, world-class financial solutions that provide convenience and flexibility in a dynamic global payments environment.
