I&M Bank, Mastercard launch Rwanda’s first multicurrency platinum prepaid card

(L-R) Robin Bairstow, Chief Executive Officer I&M Bank, and Frank Molla, Director and Country Manager Mastercard, during the launch of Rwanda’s first Multicurrency Platinum Prepaid Card in Kigali. / Emmanuel Kwizera

I&M Bank, in partnership with Mastercard on Thursday, launched a prepaid platinum multicurrency prepaid card, which among other benefits will enable customers to enjoy seamless transactions from across four continents.

The card is unique as it gives the customers a possibility of transacting in 15 major currencies and be used to transact at more than 1,000 airport lounges all over the world.

Having been tested across four continents; Africa, North America, Europe, and Asia, for travelers and business people who have been carrying cash, you can now settle your bills in various luxurious hotels and apartments and other premium treatments with 50 million merchants globally.

This card offers you a possibility to_ load up to 15 currencies, gives you access to more than 1000 airport lounges, discounts in luxurious hotels and apartments.

The card can be used to make everyday transactions like paying for utilities, hotels, Point of Sale Machines (POS), at different local stores and shops, travel frights among others.

According to I&M Bank officials, cardholders can load funds onto the card in their local currency and lock in the exchange rates for any of the accepted 15 currencies all over the world.

This means that one will have instant access to the currency he or she requires at the pre guaranteed rate.

Robin Bairstow, Chief Executive Officer I&M Bank. Emmanuel Kwizera

Multicurrency platinum prepaid cardholders will also be able to access their accounts and load the card anytime, anywhere including via mobile and online channels and use the card at all ATMs and merchants that accept Mastercard.

Speaking at the launch of the card in Rwanda, Robin Bairstow, the CEO of I&M Bank, expressed gratitude that the bank was introducing the card on the Rwandan market, saying that it will help people to not only carry cash but also help with currency conversion.

“I am excited that we are the first to launch this card on the market; I am optimistic that this card will meet our customers' lifestyle and financial needs, much especially converting currencies,” he said.

Bairstow reiterated the bank’s commitment to continue embracing innovation to ensure its customers in Rwanda and beyond enjoy customized financial options that exceed expectations.

He revealed that even those who don’t hold an account with the bank can still acquire the card and enjoy the incredible experience the card has to offer.

Frank Molla, the Director and Country Manager of Mastercard, said that they were happy to partner with I&M Bank to introduce this innovation that will allow people to transact with maximum security and convenience both locally and internationally, in person or online.

“I am very delighted for I&M Bank to allow to being part of the cashless movement we are championing across the world, this is a great contribution towards developing a world beyond cash, giving more people with or without a bank account to transact securely, and conveniently both locally and globally,” he said.

Molla said that those who will sign up in the first three months will enjoy a 50 percent discount on every transaction.

Other benefits and features of the new card includes access to platinum insurance benefits which cover card fraud protection and purchase protection.

editor@newtimesrwanda.com

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