Volopa, a UK-based fintech company, has introduced new contactless multi-currency prepaid cards to enable easy purchases or transactions while abroad.
The new multi-currency prepaid cards can hold up to 14 local currencies.
Volopa cards are designed to automatically identify the local currency during purchases or at ATMs in international countries. They will use the local currency for the transaction.
The contactless cards do not charge any additional conversion or foreign transaction fees. Customers can choose to spend in any type of currency.
The intuitive mobile and web based applications associated with the new multi-currency prepaid cards allow customers to manage their cards as well as track and control their expenditure.
These applications enable real-time checking of transactions, instant top-up, exchange of currencies, blocking of cards and transferring funds between cards, among others.
Volopa selected Global Processing Services (GPS) Apex issuer processing platform to process its transactions.
Volopa managing director Graham Smith said: “Volopa is excited to launch its new contactless multi-currency prepaid cards which are another step forward in the company’s focus to maximise delight and deliver exceptional products at lower cost for our customers.
“We are very pleased to have partnered with GPS, chosen for their exceptional capabilities and experience within the fintech sector, and we look forward to continue to grow our businesses together.”
Volopa noted that it will also allow businesses to issue the new contactless cards with their own branding to enhance customer loyalty, engagement and retention.