Affin Bank Partners With Merchantrade To Launch Multi-Currency Prepaid Card With E-Wallet
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Affin Bank has collaborated with Merchantrade Asia Sdn Bhd to launch its multi-currency Affin Merchantrade Prepaid Card, which is linked to the Merchantrade Money e-wallet with a maximum wallet size of RM20,000.

With the prepaid card, customers will be able to transact or remit funds globally in 20 foreign currencies at competitive exchange rates, with no hidden foreign exchange or cross-currency charges. It also offers a convenient online account opening process via the electronic Know Your Customer (eKYC) solution, the ability to purchase and store up to 21 currencies, as well as the flexibility to pay for goods and services at more than 120,000 Visa merchants in Malaysia and more than 70 million Visa merchants globally.

Aside from that, users can also use the card to withdraw cash at Merchantrade branches, participating agent locations, and more than 11,000 Visa Plus automated teller machines (ATMs) across the world.

“(The card) is linked to the Merchantrade Money e-wallet, which has been customised to address common currency exchange and remittance issues that clients have, allowing them to make the most of their money, especially for those who frequently transact in many currencies,” said the president and group executive officer of Affin Bank, Datuk Wan Razly Abdullah Wan Ali, adding that this partnership with Merchantrade is one of the bank’s efforts at adapting and catering to the evolving financial needs of its customers.

Meanwhile, the founder and managing director of Merchantrade Asia, Ramasamy K Veeran said that the Merchantrade Money e-wallet solution allows the company to provide partners with value-added services through a single platform as a full-service payment provider. It also offers customers greater convenience and value in their transactions both locally and overseas.

merchantrade ramasamy k veeran
(Image: Malay Mail)

Finally, the country manager of Visa Malaysia, Ng Kong Boon commented that the new product will address consumers’ diverse financial needs, as well as encourage cashless spending among Malaysians. “With such a strong value proposition, the Affin Merchantrade Prepaid Card can truly help to connect consumers to the global marketplace whether they are transacting in person or online,” he commented.

Those who are interested in applying for the card can do so at Merchantrade branches and its authorised agents, or through its website and Merchantrade Money mobile app. You can download the app for free from Google Play or the App Store.

(Sources: Affin Bank, Malay Mail, New Straits Times)

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