Interswitch partners Kenya's Credit Bank to launch multi-currency prepaid card

Interswitch Group has partnered with Kenya’s Credit Bank to introduce a multi-currency prepaid card.

Tochukwu Egesi
Tochukwu Egesi

Africa-focused integrated digital payments and commerce company, Interswitch Group has disclosed its partnership with Kenya’s Credit Bank to launch a multi-currency prepaid card.

The contactless touch and go card that can be used in restaurants, filling stations, stores, or to pay for services anywhere in the world. It can also be used to withdraw funds from ATM machines. The card has a Chip and PIN enabled to ensure secure online transactions.

Interswitch's Verve Global Card. Image Source: Market Digest Nigeria

The prepaid card is value-based, such that customers can only spend the loaded amount on the card at a time, and it is said to be ideal for everyday payments such as utility payments or travelling expenses.

The new partnership further enhances Africa's digital payments’ ecosystem, and is expected to boost Interswitch’s issuing business whilst cementing its leadership spot in the financial services industry in Africa.

Kenya In Focus:

Population: 52.573 million (Compared to South Africa's 59.6 million)

GDP: $95.503 billion (Compared to South Africa's $369.85 billion)

GDP Per Capita: $1,750 (Compared to South Africa's $6,193)

Financial inclusionNews

Tochukwu Egesi

Associate: Genesis Analytics | Financial Services Strategy in Africa (Scribing in Personal Capacity)