KCB Bank and Compass Plus Technologies have launched Kenya’s first platinum multi-currency prepaid card, allowing transactions in 11 currencies. This card enhances user convenience, minimizes conversion costs, and exemplifies the partnership’s commitment to financial services innovation in East Africa.
KCB Bank, which is the largest financial institution in East Africa, has teamed up with Compass Plus Technologies to introduce Kenya’s inaugural platinum multi-currency prepaid card. This innovative card is designed to provide customers with the flexibility to transact in various currencies, facilitating cross-border payments and access to funds. Users will have the convenience of managing transactions in 11 different currencies including Kenyan Shilling, US Dollar, Euro, and others, thus avoiding typical currency conversion fees.
Angela Mwirigi, Director of Digital Financial Services at KCB Bank stated that, “The launch of this card is a celebration of the strengthening of our long-standing partnership with Compass Plus Technologies.” This partnership aims to combine their expertise to deliver exceptional financial solutions and reinforce KCB’s status as the preferred banking choice in Kenya.
Cardholders will benefit from favorable exchange rates and lower conversion costs, which enhance the global spending experience and eliminate unexpected charges. This multi-currency card strategy simplifies users’ needs by removing the requirement for different currency accounts or multiple physical cards, thus promoting convenience and security.
Adil Ahmed, Vice President & Deputy Managing Director, MEA at Compass Plus Technologies expressed his excitement about the collaboration, saying, “This card not only enhances the banking experience for KCB Bank’s customers but also sets a new industry standard for multi-currency prepaid cards in Africa.” The partnership has been fruitful, dating back to 2012, when KCB Bank consolidated its systems with Compass Plus, focusing on improving financial inclusion and expanding its reach within East Africa.
As the largest commercial bank in Kenya, KCB Bank boasts over 200 branches, 367 ATMs, and 16,000 agents providing round-the-clock banking services. It also offers mobile and internet banking services backed by a robust support system. KCB Group Plc maintains extensive correspondent relationships globally, ensuring seamless international trade facilitation for its customers.
KCB Bank’s unveiling of Kenya’s first platinum multi-currency prepaid card in collaboration with Compass Plus Technologies marks a significant advancement in providing flexible banking solutions. The card facilitates transactions in multiple currencies without incurring conversion fees, ultimately enhancing the user experience. This initiative reinforces the long-standing partnership between the two entities and showcases KCB Bank’s commitment to innovation and customer-centered financial services.
Original Source: www.zawya.com
