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UAE Exchange's multi-currency prepaid travel card is a hassle-free payment facility for travellers UAE Exchange's multi-currency prepaid travel card is a hassle-free payment facility for travellers

It has been about six years since UAE Exchange launched the first-of-its-kind multicurrency prepaid travel card in the region, and currently, we are the largest issuer of prepaid cards in the UAE. Ever since the card has come out on the market, it has become one of the more popular travel-focused prepaid cards, preferred by travellers and on-the-move customers, says TP Pradeep Kumar, Deputy Chief Executive Officer of UAE Exchange in an interview with Khaleej Times. 
Delivering exceptional value, convenience and a frictionless experience to customers, this travel card is an effective expense management tool and a payment instrument of increased security. Moreover, along with its feature-rich mobile app, UAE Exchange's multi-currency prepaid travel card gives customers an easy, seamless and secure way to carry money in a foreign country.
"This MasterCard enabled card is accepted at ATMs and merchant locations worldwide as well as on e-commerce sites, and has the latest Chip and PIN technology which further protects customers against counterfeiting and card fraud," Pradeep remarked.
With smooth transitions from one currency to another, cardholders can choose from a bouquet of 16 currencies on one card. In addition to guaranteeing the best foreign currency exchange rates, UAE Exchange's multicurrency prepaid travel card offers a currency exchange rate-lock facility that allows customers to take advantage of currency volatility and be protected against rate fluctuations.
To enhance customer experiences and keeping in mind the needs of the digital users, UAE Exchange introduced the gocash app and contactless payment via wearable devices. This mobile app facilitates quick exchange rate calculations, easy wallet-to-wallet transfers, creating or deleting of currency wallets, changing the priority of currency usage, service requests, activation and deactivation of online transactions, notifications on special promotions and offers, etc. 
"Through our user-friendly app, customers can simply tap their way to enjoy the various card services while on the move, and would no longer have to depend on branch visits, calling customer care representatives or finding a computer to access their card and its different currency wallets," observed the Deputy CEO of UAE Exchange. 
He said strategic alliances with specialists further provide our customers with greater value-added benefits. The gocash Sony PlayStation co-branded card allows customers to purchase Sony PlayStation products seamlessly and also get periodic offers from Sony PlayStation; while travellers with the gocash Cleartrip co-branded card can enjoy exclusive offers and discounts when booking through Cleartrip.ae website and mobile app. Through the card's loyalty programme, customers can earn WACAO Reward Points each time the UAE Exchange multicurrency prepaid travel card is used. Cardholders are also covered under a travel insurance policy, which is Schengen-compliant, at no additional costs. 
Pradeep says, "The UAE market is slowly adopting the prepaid concept and going beyond the conventional mindset of a cash-back feature. The disruption caused by technology has heralded a whole new era in the financial payments space. Both developed and emerging markets are embracing prepaid payment technologies that present value to consumers beyond the conventional payment instruments. The uptake and usage of UAE Exchange's multicurrency prepaid travel card is a testimony to the growing awareness and acceptance of payment technologies and prepaid products in this market."
- T.P Pradeep Kumar is Deputy Chief Executive Officer, UAE Exchange