Australian digital bank Xinja has launched a new prepaid card and mobile application to facilitate everyday spending for its customers across the country.
The card integrates tap-and-go capability. While it can be reloaded through a direct transfer from the user’s existing bank account, it can be managed only through the new app.
The app allows tracking of spending, instant card blocking in case of loss and division of transactions into different spend categories.
The card comes with zero ATM fees for local as well as international terminals, and does not charge any international transaction fees for purchases made outside Australia.
Initially, the card will be available for consumers who have already signed up to be part of Xinja, with plans for expansion in the future.
Xinja CEO and founder Eric Wilson said: “The prepaid card offers users a chance to help bring a revolution to Australian banking, to load their disposable income on a tap-and-go card, track their spending, and submit ideas for the app as we develop.”
The bank intends to utilise user feedback, requests and ideas to add new features and capabilities to its products. Xinja is also planning for a complete suite of banking services, including transaction accounts and home loans.