BFC Payments partners with M2P Fintech to launch travel card
By Leandra Monteiro
BFC Payments, the FinTech arm of BFC Group Holdings W.L.L., has collaborated with M2P Fintech, an API infrastructure company, to launch an advanced multicurrency card, BFC PAY TRAVEL BUDDY that offers international travellers great convenience as it allows for fast top-ups, instant currency conversion, worldwide shopping, dining and lots more. The technology stack for issuing the card is powered by M2P Fintech along with Visa Platinum as the network partner.
With the rise in business and leisure travel post-pandemic, a safe and seamless digital payment instrument like the multi-currency prepaid card becomes crucial for the traveller. A significant advantage of the BFC Pay Travel Buddy card is the ability to instantly load BHD and transfer to five different currencies in the wallet at attractive exchange rates. The exchange rate lock feature allows the forex (FX) rate to be secured when converting the currency. BFC Pay Travel Buddy Card leverages the best of M2P’s ‘Cards Suite’ to provide consumers with instant, safe and seamless payment choices.
“For Travel Buddy, we wanted to offer our customers a superior digital experience. Everything is done instantly through the BFC Pay mobile app, whether applying for the card, loading the money or buying FX. We want customers to travel cash-free and give them the most cost-effective solution on all their international spending, be it booking tickets online or shopping while you travel”, said Davis Parakal, General Manager, BFC Payments.
Speaking on the collaboration, Vaanathi Mohanakrishnan, Business Head, MENA, M2P Fintech said, “We are excited to partner with BFC Payments to offer the multicurrency travel card. M2P’s Cards Suites, which enable over 30 million payment instruments in Asia, has innovation at its heart. The versatility of prepaid travel cards is just another illustration of M2P’s ability to develop tailor-made solutions to meet the diverse requirements of consumers and maximize customer delight.”
IBSi Daily News Analysis
June 06, 2023
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