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 longstanding 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 multicurrency 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.
