Mastercard, in collaboration with KCB Bank Kenya, has launched Kenya’s first multi-currency prepaid card, a groundbreaking solution designed to simplify international transactions.

This card supports 11 hard currencies, providing users with the ability to make seamless payments across a variety of global destinations.

The card covers 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, offering customers flexibility and ease when managing their finances across borders.

Shehryar Ali, Senior Vice President and Country Manager for East Africa at Mastercard, expressed excitement over the partnership.

"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," Ali stated.

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"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.”

Angela Mwirigi, Director of Digital Financial Services at KCB Bank Kenya, praised the partnership, noting, “The launch of this card is a celebration of the strengthening of our long-standing 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.”

Designed to cater to students, athletes, online shoppers, businesses, and corporates, the card offers a cost-effective method for managing international transactions by reducing high fees and providing greater convenience for frequent travellers.

Additionally, cardholders can enjoy favourable exchange rates and reduced conversion costs, which eliminate unexpected charges and simplify global spending.

The prepaid feature of the card allows users to load specific amounts, giving them greater control over their spending.

Cardholders can manage their prepaid balances and monitor transactions via a convenient self-serve portal on the website.

This collaboration between Mastercard and KCB Bank Kenya marks a significant advancement in the delivery of secure, flexible, and accessible financial solutions for a diverse range of users, helping to redefine global commerce in Kenya and beyond.