KCB Bank Kenya, in partnership with Mastercard, has launched Kenya’s first-ever multi-currency prepaid card, designed to transform global spending by supporting 11 currencies. This milestone innovation provides a seamless solution for international transactions, offering convenience, security, and cost efficiency for both individuals and businesses.
The card supports a diverse range of currencies, including the 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), and Chinese Yuan (CNY).
Targeting frequent travelers, students, athletes, online shoppers, businesses, and corporates, the card reduces high transaction fees while providing favorable exchange rates and real-time currency conversion. Its prepaid feature ensures better spending control and can be managed easily through an online self-serve portal.
Angela Mwirigi, Director of Digital Financial Services at KCB Bank Kenya, commented, “This card is a testament to our strong partnership with Mastercard, combining our expertise to deliver cutting-edge financial solutions. It reflects our ambition to be the bank of choice in Kenya by offering unmatched convenience for global transactions.”
Key Features and Benefits of the Multi-Currency Prepaid Card
- 11 Supported Currencies: Enables spending across various global destinations without needing separate accounts or cards.
- Reduced Conversion Costs: Offers favorable exchange rates and eliminates hidden charges.
- Enhanced Spending Control: Prepaid functionality helps cardholders manage budgets effectively.
- Seamless Access: Online portal provides real-time updates on balances and transactions.
- Security and Convenience: One card for multiple currencies ensures secure and simplified transactions.
Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard, highlighted the collaboration’s significance: “This historic milestone redefines global commerce by simplifying cross-border payments for individuals and businesses. At Mastercard, we remain committed to building secure, flexible, and innovative payment ecosystems that drive global opportunities.”
This initiative reinforces KCB Bank Kenya’s dedication to delivering innovative financial solutions tailored to the needs of a dynamic, globally connected economy.
