Dubai: UAE Exchange Launches Six-currency Prepaid Travel Card

Media Release

- Customers can load up to six currencies out of a bouquet of 15; Card can be used across 34.3 million MasterCard-enabled merchant locations, 1.5 million bank ATMs across the globe and for online purchase

- Exchange rate lock facility to the advantage of customers; Available across 122 UAE Exchange branches in the UAE

Dubai, Dec 12: The leading global remittance and foreign exchange brand, UAE Exchange, on Wednesday December 12 unveiled the Middle East’s first six-currency prepaid travel card, gocash, which will empower travellers to move around the world, hassle-free, with a power-packed plastic currency that can be used across 34.3 million merchant locations and 1.5 million ATMs.

Abdulla Humaid Ali Al Mazroei, Chairman, UAE Exchange and Dr B R Shetty, MD and CEO, UAE Exchange, together launched this feature-packed travel card in Dubai. They expressed their immense happiness in launching the secure and convenient gocash travel card, the first-of-its-kind path-breaking innovation from a remittance brand in the region, in partnership with MasterCard.

“We have kick-started a revolution in world travel!” said Sudhir Kumar Shetty, COO – Global Operations, UAE Exchange, at the launch, adding that “innovation and product diversification are at the core of our growth strategy. gocash is a testimony to our continuing spirit of providing customers with empowering solutions.”

A customer can load up to six different currencies on gocash from a bouquet of 15, a unique feature that is unparalleled in its category.

“UAE Exchange has always been at the forefront in offering innovative and diversified product range. We are confident to position gocash as a revolutionary product, which we have launched with MasterCard, our long time partner,” Sudhir Shetty said.

“This new innovation is in line with our vision to bring as much convenience for our customers as possible, under one roof,” he added.

One of the significant advantages of gocash to the customer is the exchange rate lock facility that allows pegging the rate at the prevalent market price at the time of loading the card.

Promoth Manghat, Vice President – Global Operations, UAE Exchange, said, “This feature protects the user from exchange rate fluctuations while on the move and gives the traveller peace of mind.”

“Choice of currencies, security features and worldwide acceptance add to the convenience, making gocash a unique innovation from the UAE Exchange stable. With this, we take yet another step towards our vision of bringing maximum convenience to our customers, on the move,” Manghat added.

Eyad Al-Kourdi, UAE Country Manager, MasterCard Worldwide, said, “Innovation is at the heart of all MasterCard payment solutions and the introduction of the gocash prepaid travel card is yet another example of our capability to develop tailored products that match the diverse requirements of consumers in the region and offer them real value.”
 
“This product innovation is a perfect payment solution that meets these requirements and we are confident that UAE Exchange’s customers will benefit immensely from this new prepaid product. We are proud of our collaboration with UAE Exchange to advance our vision of a world beyond cash.”
 
UAE Exchange and MasterCard share the same values and vision to achieve maximum customer delight. Both the brands enjoy the trust of millions of customers worldwide. The new multi-currency travel card is a dedication to these customers, who love convenience even on the move.

For more information, please log on to www.uaeexchange.com or www.gocashcards.com

About MasterCard Worldwide

MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities such as shopping, travelling, running a business and managing finances easier, more secure and more efficient for everyone. Follow on Twitter @MasterCardNews.
About UAE Exchange

UAE Exchange is a leading global remittance and foreign exchange brand, with direct operations spanning 30 countries with more than 650 branches, which makes it the largest globally networked remittance brand in the world. Correspondent relationship with more than 150 global banks adds to its might. Additionally its associations with many leading brands globally bring several value-added products and services to over 4 million customers, worldwide. In the UAE, the brand has a leading presence with a network of 122 branches, out of which 14 are in the Dubai Metro network. UAE Exchange is the first remittance brand in the UAE to have a presence in the metro stations. Acclaimed as the ‘World’s Trusted Money Transferrer'.

UAE Exchange has completed over 32 years of successful business operations.

For more information, log on to www.uaeexchange.com.

Contacts:

UAE Exchange
Lahcen ATERTA
Manager Media Relations, +971-2-494-5480
aterta.lahcen@uaeexchange.com

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