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 in multiple currencies.
The card supports an extensive range of currencies including the Kenyan Shilling, US$, British Pound Sterling, Euro, Swiss Franc, Australian Dollar, Canadian Dollar, Indian Rupee, Japanese Yen, South African Rand, and Chinese Yuan.
(TOP: L-R – Johnson Ondicho, Head of Digital Channels at KCB Bank Group; Angela Mwirigi, Group Director, Digital Financial Services at KCB Bank Group; Shehryar Ali, Senior VP and Country Manager for East Africa and Indian Ocean Islands at Mastercard; and Victor Ndlovu, Head Business Development East Africa at Mastercard, during the KCB Multicurrency Prepaid Card launch at Nairobi Royal Golf Club).
The versatile 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.
Jane Isiaho, Director of Retail Banking at KCB Bank Kenya,stated during the launch event: “The multi-currency card offers a streamlined way for customers to manage expenses across multiple currencies, addressing their global transaction requirements effectively.”
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 allows users to load specific amounts for better spending control, while real-time exchange rates enable automatic currency conversion during purchases, eliminating the hassle of traditional currency exchanges or managing multiple wallets.
Shehryar Ali, the Senior VP and Country Manager for East Africa and Indian Ocean Islands 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.”
The collaboration underscores KCB Bank Kenya’s commitment to delivering innovative, world-class financial solutions that provide convenience and flexibility in a dynamic global environment.
KCB Bank Kenya is the largest commercial bank in the country. A subsidiary of KCB Group, the Bank has the largest branch network, with over 200 branches, 367 ATMs and 16,000 agents offering banking services on a 24/7 basis in East Africa. This is complemented by mobile banking and internet banking services with a 24-hour contact center services for our customers to get in touch with the Bank. KCB Group Plc- which also has presence in Uganda, Tanzania, South Sudan, Burundi, Rwanda and a representative office in Ethiopia also boasts of a wide network of correspondent relationships totaling over 200 banks across the globe and our customers are assured of a seamless facilitation of their international trade requirements wherever they are.
Be the first to comment