KCB Bank and Compass Plus Technologies Launch Kenya’s First Platinum Multi-Currency Card

KCB Bank has launched Kenya’s first platinum multi-currency prepaid card in partnership with Compass Plus Technologies. The card supports transactions in eleven currencies, aiding customers in avoiding exchange fees. This initiative underscores the strengthening collaboration between both organizations, offering enhanced banking experiences and promoting financial inclusivity in East Africa.

KCB Bank, recognized as the foremost financial institution in East Africa, has collaborated with Compass Plus Technologies to introduce Kenya’s inaugural platinum multi-currency prepaid card. This innovative card is designed to provide customers with increased flexibility in accessing funds and facilitating payments internationally, thus enhancing their overall banking experience.

The multi-currency card supports transactions in eleven widely used currencies: Kenyan Shilling, US Dollar, British Pound Sterling, Euro, Swiss Franc, Australian Dollar, Canadian Dollar, Indian Rupee, Japanese Yen, South African Rand, and Chinese Yuan. Users benefit from avoiding common currency conversion fees when utilizing this card, allowing for cost-efficient transactions.

Angela Mwirigi, Director of Digital Financial Services at KCB Bank Kenya, stated that the launch of this card epitomizes the strengthened partnership with Compass Plus Technologies. She emphasized that this collaboration unites two industry leaders, aiming to provide exceptional financial solutions while reinforcing their position as the bank of choice in Kenya.

Once users have enrolled, they can enjoy competitive exchange rates and diminished conversion costs, fostering an uncomplicated global spending experience. The card’s functionality in managing multiple currencies eliminates the necessity for separate accounts or physical cards, enhancing both convenience and security for cardholders.

Adil Ahmed, Vice President & Deputy Managing Director at Compass Plus Technologies, expressed enthusiasm regarding the collaboration with KCB Bank. He noted that this new card product not only enriches customer experience but also establishes a new benchmark for multi-currency prepaid cards across Africa.

Since 2012, KCB Bank and Compass Plus Technologies have worked effectively to consolidate multiple systems into a single, adaptable processing center, thus improving their ATM, POS acquiring, and issuing processes. Together, they have embarked on numerous initiatives aimed at advancing financial inclusion in Kenya and broadening the bank’s operations within East Africa.

KCB Bank Kenya Limited operates as the largest commercial bank in Kenya. Under KCB Group Plc, it boasts an extensive network of over 200 branches, 367 ATMs, and 16,000 agents available for banking services around the clock. Additionally, the bank offers internet and mobile banking solutions, further enhancing customer accessibility and service.

With a presence across multiple countries, including Uganda, Tanzania, South Sudan, Burundi, Rwanda, and a representative office in Ethiopia, KCB Bank has established extensive correspondent relationships with more than 200 banks worldwide, ensuring seamless facilitation of international trade requirements for its customers.

The introduction of Kenya’s first platinum multi-currency prepaid card by KCB Bank, in collaboration with Compass Plus Technologies, marks a significant advancement in banking convenience. By allowing transactions in multiple currencies with favorable rates, this card aims to improve customer experiences and set new industry standards. The ongoing partnership between KCB Bank and Compass Plus highlights their commitment to enhancing financial inclusivity and customer service in East Africa.

Original Source: www.zawya.com