KCB Bank and Mastercard Unveil Kenya’s First Multi-Currency Prepaid Card

KCB Bank Kenya has teamed up with Mastercard to introduce the country’s first multi-currency prepaid card, offering seamless international transactions in 11 different currencies. This new financial solution is designed to simplify cross-border spending while reducing transaction fees, making it an attractive option for businesses, travellers, online shoppers, and students.

The prepaid card supports major global currencies, including the U.S. dollar, British pound, euro, Swiss franc, Australian dollar, Canadian dollar, Indian rupee, Japanese yen, South African rand, Chinese yuan, and the Kenyan shilling. With the ability to hold multiple currencies in a single card, users no longer need to juggle different bank accounts or physical cards for international payments.

Angela Mwirigi, Director of Digital Financial Services at KCB Bank Kenya, described the partnership as a milestone in strengthening their long-standing relationship with Mastercard. She emphasised that the collaboration combines innovation and expertise to provide exceptional financial solutions that align with KCB’s mission of being Kenya’s preferred banking institution.

Beyond its convenience, the card offers users access to real-time exchange rates and eliminates unexpected fees that often come with foreign transactions. Automated currency conversion ensures a smooth payment experience, allowing users to spend without worrying about manual exchanges. Additionally, the prepaid feature enables cardholders to load a set amount of money, helping them manage their expenses more effectively.

Users can access and monitor their balances through a self-service online portal, offering a practical way to track spending and manage funds efficiently. This security-focused approach enhances financial control while reducing the risks associated with carrying multiple cards or handling cash in foreign countries.

Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard, highlighted the significance of this launch, calling it a historic milestone in redefining global commerce. He noted that the card simplifies international transactions, allowing individuals and businesses to focus on their goals without financial barriers. He also reaffirmed Mastercard’s commitment to creating secure, flexible, and accessible payment ecosystems that drive global financial inclusion.