KCB Bank unveils multi-currency prepaid card with Compass Plus Technologies

By Gloria Methri

KCB Bank has partnered with Compass Plus Technologies to strengthen its multi-currency offering by launching Kenya’s first platinum multi-currency prepaid card. The card provides KCB bank customers with the flexibility to pay for goods and access funds across borders.

The card allows users to load and transact in 11 currencies—Kenyan Shilling, US Dollar, British Pound Sterling, Euro, Swiss Franc, Australian Dollar, Canadian Dollar, Indian Rupee, Japanese Yen, South African Rand, and Chinese Yuan—some of the most popular among its customers. It also helps users avoid the typical exchange fees associated with currency conversion.

“The launch of this card is a celebration of the strengthening of our long-standing partnership with Compass Plus Technologies. This collaboration, once again, brings together two leaders in the industry, merging our expertise, innovation, and shared goal to provide exceptional financial solutions living up to our aspirations of being the bank of choice in Kenya,” said Angela Mwirigi, Director of Digital Financial Services, KCB Bank Kenya.

Once enrolled, cardholders will enjoy favourable exchange rates and reduced conversion costs, eliminating unexpected charges and simplifying global spending. The card’s ability to handle multiple currencies removes the need for separate currency accounts or physical cards, ensuring greater convenience and security.

“We are thrilled to have collaborated with KCB Bank on this exciting venture,” stated Adil Ahmed, Vice President & Deputy Managing Director, MEA at Compass Plus Technologies. “Throughout our long-term partnership, KCB has always taken a forward-thinking approach to developing new card products to improve the lives of their customers. This card not only enhances the banking experience for KCB Bank’s customers but also sets a new industry standard for multi-currency prepaid cards in Africa.”

KCB Bank has been working with Compass Plus Technologies since 2012, when the bank successfully consolidated its three separate systems into one flexible in-house processing centre to handle its issuing, ATM, and POS acquiring businesses. Since then, the two parties have worked together on multiple projects to drive financial inclusion in Kenya and expand the bank’s presence in East Africa.