Al Fardan Exchange, one of the leading financial service providers in the UAE , Abu Dhabi Islamic Bank (ADIB), one of the top banks in the Middle East, and Rêv Worldwide, a global payment products innovations company and prepaid processor along with Visa have announced a partnership to deliver the innovative Al Fardan Exchange TravelezPlus Visa Prepaid Card that can store more than 13 currencies in just one card.
Osama Al Rahma, CEO of Al Fardan Exchange UAE said, “We are always looking to deliver relevant products and services to our customers, and the launch of TravelezPlus is a great example of the type of partnerships we have developed to bring our customers the best value and service.”
The TravelezPlus Visa prepaid card is a multi-currency reloadable card that can be used anywhere Visa is accepted across 200 countries and territories and 2.3 Million ATMs worldwide. The product, aimed at the growing population of travelers, both business and leisure, in and out of the UAE, offers unique security and convenience benefits.
The TravelezPlus Visa prepaid card can be loaded with up to 13 plus currencies including UAE Dirham, U.S. Dollars, Euros, British Pounds, Canadian Dollars, Australian Dollars, Singapore Dollars, Thai Baht, Hong Kong Dollars, Japanese Yen, Omani Rials, Qatari Rials and Bahraini Dinars. All the currencies can be exchanged real time using a smart mobile app and online portal. TravelezPlus is a safer alternative to cash for travelers and is Chip and PIN protected for additional security.
TravelezPlus smart mobile app, available for iOS and Android users, allows customers to:
• View balance and transaction history by currency and date
• Make card to card instant fund transfers
• Add and move currencies between wallets, select currency order
• Activate or deactivate the card
• Create SMS or Email alerts
Philip King, Head of Retail Banking, UAE at ADIB commented, said, “The market opportunity for prepaid debit cards is strong, and multi-currency prepaid cards is gaining popularity in this part of the world. We are pleased to be leading the innovation in the area of prepaid cards bringing to the market innovative products that provide a real service to customers and have a tremendous opportunity for growth.“
“The launch of Al Fardan’s new TravelezPlus card comes at a time when travel cards are experiencing a great demand in the market, partly driven by the innovations quickly developing behind the product(s),” said Rene Gonzalez, Chief Operating Officer of Rêv Worldwide.
According to Visa, in the past year, the Middle East emerged as the number one region in terms of prepaid card spends across all Asia-Pacific, Central Europe, Middle East and Africa territories. In just one year, total prepaid spend in the Middle East over took India, Australia and Africa – traditionally areas where the greatest prepaid spend has happened over the past 10 years.