American fintech company ECARD has launched a new prepaid debit card featuring cross-border payment capability and member rewards.
The new ECARD Prepaid Debit Card will be issued by Global Bank under UnionPay network. The cross-border functionality of the card enables instant transfer between ECARD accounts.
It can be used across 170 countries through the UnionPay network. Users will be eligible for the Chinese card provider’s reward programmes, including of hotels, restaurants and retail stores.
Besides, ECARD has more than 200 local partner merchants providing a variety of benefits, including up to 9% cashback.
In addition, the ECARD Prepaid Debit Card charges zero transaction fees for purchases made within the US and withdrawals at SUM network ATMS. International purchases and withdrawals have 1.49% conversion fee.
ECARD CEO Wayne Tsao said: “It was our goal to eliminate much of the complications that surround international travel as it applies to personal payment options.
“To us, developing an option that would be available to anyone, regardless of previous financial history, was paramount in designing our latest product. Accessibility, global acceptance, security, and ease of use were the foundations of our development process.”
The fintech focuses on offering fast and simple payment solution for domestic as well as international transactions. The ECARD Prepaid Debit Card is expected to cater to the cross-border payment space, enabling use of personal finances while abroad.