Travellers can now load up to 17 currencies onto a single card, providing them with a safer, more convenient and affordable payment alternative when travelling

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JOHANNESBURG – September 29, 2015 – Bidvest Bank and MasterCard today announced the launch of the Multi-Currency World Currency CardTM – MasterCard’s first prepaid travel card that allows cardholders to load up to 17 currencies on the same card at any time.

The Multi-Currency World Currency Card can be loaded both before departure, and while travelling, with any one or all of the 17 available currencies including: the United States Dollar, British Pound, Euro, Australian Dollar, Thai Baht, Canadian Dollar, Argentine Peso, Brazilian Real, Indian Rupee, Chinese Yuan, Israeli Shekel, United Arab Emirates Dirham, Mauritian Rupee, Saudi Riyal, Japanese Yen, Swiss Franc, and New Zealand Dollar.

The cardholder can then use the card globally to pay for goods and services at millions of merchant locations or withdraw cash from ATMs wherever the MasterCard Acceptance Mark is displayed.

“Three main priorities for cardholders when travelling are safety, the convenience of being able to use a payment card worldwide and not spending a fortune on unplanned fees. The Multi-Currency World Currency Card provides peace of mind for all of these,” says Alan King, managing director, MasterCard Prepaid Management Services.

Travellers can lock-in the exchange rate on the local currency of their destination ahead of time, and decide exactly how much they want to spend in a particular foreign currency, without having to think about conversion rates. The card is smart and intelligently matches the relevant currency loaded onto the card with that of the country they are in. For example, if both Pounds Sterling and Euros are loaded onto the card at the same time and the cardholder is in London, the card will automatically default to the Pound wallet in order to avoid additional foreign exchange fees.

The card comes with Chip and PIN protection, providing a more secure way to pay for goods and services on their travels. If the card is lost or stolen, a free card replacement will be sent to the cardholder abroad in 24-48 hours, and emergency cash can be arranged. The cardholder has the additional peace of mind as the card is not linked to their primary bank account or credit card.

“Cardholders can make instant transfers between the various currencies on the card, for example if a specific currency is depleted. We have also made topping-up of funds an easy process, giving our clients the ability to reload any currency on their card,” says Japie van Niekerk, Managing Director, Bidvest Bank.

Cardholders can check balances, transaction history and transfer between currencies either via the World Currency Card mobile app – available from the iOS and Android app stores – or online via the ‘My Account’ online portal. Alternatively currency can be preloaded or topped up via the Bidvest Bank online forex ordering portal, or at one of the bank’s branches.

“The Multi-Currency World Currency Card is a smart and safe alternative to carrying cash when travelling abroad, and offers an easy-to-manage solution for business and leisure travellers, whether travelling to one country or many. And with added benefits such as access to special offers and experiences around the world on dining, sport, sightseeing and other attractions available via the MasterCard Priceless Cities programme, the travel card is a traveller’s perfect companion,” says King.

About Bidvest Bank

At Bidvest Bank, niche markets are our specialty. As a member of the JSE-listed Bidvest Group, we’ve served thousands of discerning corporate and individual customers in a range of industries since acquiring our full banking license in 2000.

We offer a full suite of banking and financial services including foreign exchange services, investment products, business banking, trade finance and fleet management and asset-based finance. We continue to be specialists in foreign exchange and global payments, and are proud to offer South Africa’s widest range of prepaid travel cards and foreign bank notes. Overall, our goal is to make our customers’ lives easier when travelling abroad – whether for work or pleasure.

About MasterCard

MasterCard, www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter: @MasterCardMEA and @MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the MEA Engagement Bureau.

Media Contact

Geraldine Trennery, MasterCard, geraldine_trennery@mastercard.com, +27 76 301 0264