KCB Bank Kenya, in collaboration with Mastercard, has introduced the country’s first multi-currency prepaid card, supporting transactions in 11 major global currencies. This groundbreaking solution is designed to simplify international spending and offer enhanced convenience for customers travelling or transacting globally.
The card accommodates a wide range of currencies, including:
- Kenyan Shilling (KES)
- US Dollar (USD)
- British Pound Sterling (GBP)
- Euro (EUR)
- Swiss Franc (CHF)
- Australian Dollar (AUD)
- Canadian Dollar (CAD)
- Indian Rupee (INR)
- Japanese Yen (JPY)
- South African Rand (ZAR)
- Chinese Yuan (CNY)
Tailored for Global Transactions
Targeting students, athletes, online shoppers, businesses, and corporate entities, the card provides a cost-effective and seamless way to manage international transactions. It minimizes high transaction fees, offers competitive exchange rates, and reduces conversion costs, ensuring transparent and convenient cross-border payments. Angela Mwirigi, Director of Digital Financial Services at KCB Bank Kenya, highlighted the strategic collaboration with Mastercard, stating:
“The launch of this card is a celebration of the strengthening of our long-standing partnership with Mastercard. This collaboration 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.”
Key Features and Benefits
- Multi-currency capability: Eliminates the need for separate currency accounts or multiple cards.
- Prepaid functionality: Allows users to load specific amounts, promoting controlled spending.
- Convenience and security: Real-time exchange rates ensure accurate conversions during purchases while eliminating the need for manual currency exchanges.
- Self-serve portal: Enables cardholders to manage balances, monitor spending, and reload funds with ease.
Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard expressed his enthusiasm for the partnership, stating: “We are delighted to collaborate with our key strategic partner, KCB Bank Kenya, in launching the country’s first platinum multi-currency prepaid card supporting the highest number of currencies. This is a historic milestone in redefining global commerce. At Mastercard, we are committed to fostering cutting-edge, secure, and accessible payment ecosystems that drive global opportunities.”
Revolutionizing Global Commerce
The card’s innovative features cater to frequent travellers, businesses, and individuals with international financial needs, promoting efficiency, cost savings, and enhanced control. By merging financial expertise and technological innovation, KCB Bank Kenya and Mastercard are setting a new standard for global transactions in Kenya.
