Wirecard issues RHB Bank's first digital multi-currency card RHB TravelFX

Aschheim (Munich) / Singapore (ots) -

- Wirecard issues Singapore's first multi-currency card, launched
by RHB Bank which is present in ten Asian countries
- The payment solution provides an easy-to-use platform that
offers customers competitive foreign exchange (FX) rates to
eleven currencies in the RHB TravelFX app

Wirecard, the global innovation leader for digital financial
technology, and RHB Singapore, part of the RHB Banking Group and
recognized as one of the region's leading multinational financial
services groups with an annual revenue of EUR 145 bn., are
introducing today the digital multi-currency card RHB TravelFX and
the accompanying mobile app. The RHB Group's regional presence spans
ten countries including Malaysia, Singapore, Indonesia, Thailand,
Brunei, Cambodia, Myanmar, Hong Kong (with a representative office in
China), Vietnam and Lao PDR. RHB TravelFX is the first prepaid
multi-currency Visa card introduced by a bank in Singapore. The
payment solution provides an easy-to-use platform that offers
customers very competitive foreign exchange rates, real-time currency
exchange and the freedom to use local currency overseas.

Using multi-currency cards is a safe and smart way to carry travel
money. The product issued by Wirecard and provided by RHB Bank has an
enormous potential to alter the way foreigners pay abroad in the long
run. In 2016, global international tourism revenue reached
approximately 1.36 trillion U.S. dollars, having almost doubled since
2005. Travelers from the Asia-Pacific region have the largest
international tourism expenditure worldwide. Singaporean customers of
RHB will have access to payment in eleven different currencies via
the RHB TravelFX app, thus being able to enjoy traveling without
bringing cash or having to deal with leftover currencies. Wirecard
issues the multi-currency Visa credit card that is distributed by RHB
Singapore. The unique arrangement and partnership between Wirecard
and RHB provides card users with security features to use the card
wallet without accessing their bank accounts.

Apart from enabling customers to make purchases in national
currencies when overseas, the RHB TravelFX allows them to withdraw
local currency from the widespread Visa/Plus ATM network, to make
online purchases in any of those currencies of choice and to exchange
foreign currencies within the card wallet. Customers can fully manage
the card wallet via the app and enjoy 24-hour access to competitive
FX rates. There is also added security, allowing customers to lock
the card when it is not in use or lost.

Ms Wong Chung Yee, Head of Personal Financial Services and Wealth
Management, RHB Singapore, says: "In our effort to move into the
cashless and eWallet space, we are pleased to launch the RHB TravelFX
app, a multi-currency mobile wallet open to customers with bank
accounts in Singapore. Customers will benefit from the convenience
and competitive FX rates offered by this solution. The app gives
customers total control over the FX rates that they want to buy at,
by setting an alert on the app at their preferred rates, and exchange
for foreign currencies anywhere, anytime - enhancing one's traveling
experience."

"Travel is a popular activity amongst Singaporeans. Based on the
Global Travel Intentions study commissioned by Visa, Singaporeans
have taken approximately seven international trips in the last two
years. Our data also shows that 20 per cent of total spend for
Singapore Visa cardholders is on cross-border purchases. Even though
Singaporeans are extremely familiar with digital payments, 95 per
cent of them will still visit a money changer to exchange for foreign
cash before they travel. With a travel product like RHB TravelFX
offered to consumers today, we believe more Singaporeans will embrace
the benefits and convenience of using electronic payments, especially
when they travel," adds Kunal Chatterjee, Visa Country Manager for
Singapore & Brunei.

Grigoriy Kuznetsov, Executive Vice President, Global Financial
Services at Wirecard, says: "Digitalization has brought about huge
changes in all areas and especially in financial services. This means
that as a bank, it is crucial to offer your customers smart, digital
products that provide real added value. We are very pleased that we
are able to contribute our expertise as a global innovation leader in
digital financial technology and to realise this great project
together with RHB. This enables RHB Singapore to offer their
customers a fully digital state-of-the-art solution that makes
traveling much easier and more fun. This further reinforces our
position as a leading global prepaid issuer and Bank Identification
Number sponsor."

The RHB TravelFX app can be downloaded via Google Play Store and
Apple App Store. Thereafter, consumers can easily apply for the RHB
multi-currency card through the app and charge their RHB TravelFX
card wallet with Singapore Dollars from any bank account in
Singapore. Customers do not need to maintain a bank account with RHB,
there is no annual fee and no minimum balance fall-below fee.

About Wirecard:

Wirecard (GER:WDI) is one of the world's fastest growing digital
platforms in the area of financial commerce. We provide both business
customers and consumers with a constantly expanding ecosystem of
real-time value-added services built around innovative digital
payments by using an integrated B2B2C approach. This ecosystem
concentrates on the areas payment & risk, retail & transaction
banking, loyalty & couponing, data analytics & conversion rate
enhancement in all sales channels (online, mobile, ePOS). Wirecard
operates regulated financial institutions in several key markets,
holds issuing and acquiring licenses from all major payment and card
networks. Wirecard AG is listed on the Frankfurt Stock Exchange
(TecDAX, ISIN DE0007472060). Visit us on www.wirecard.com, follow us
on Twitter @wirecard and on Facebook @wirecardgroup.

About RHB Singapore:

RHB Singapore was first established in 1961 through a series of
rapid expansion and strategic mergers. For more than half a century,
RHB has garnered invaluable financial experience and transferred
those insights of service excellence on to clients, helping both
individuals as well as corporations fulfil their business
opportunities. Throughout these years of dedication in Singapore, RHB
has built formidable ties with clients and is established as one of
the Republic's most trusted financial institutions. RHB Singapore's
core businesses are streamlined into eight pillars, namely Personal
Financial Services and Wealth Management, Commercial Banking,
Corporate Banking, Treasury, Structured Finance as well as Investment
Banking, Brokerage and Asset Management businesses. All the eight
business pillars are offered through RHB Bank Berhad (a
fully-licensed bank), RHB Securities Singapore Pte Ltd and RHB Asset
Management Pte Ltd. RHB Singapore is the local business operations of
the RHB Banking Group, the fourth largest fully integrated financial
services group in Malaysia. The Group's regional presence spans ten
countries in ASEAN including Hong Kong. It is RHB Banking Group's
aspiration to continue to deliver superior customer experience and
shareholder value; and to be recognised as a Leading Multinational
Financial Services Group. For more information, please visit
www.rhbgroup.com.sg.

Contact:
Wirecard media contact:
Wirecard AG
Jana Tilz
Tel.: +49 (0) 89 4424 1363
Email: jana.tilz@wirecard.com

RHB media contact:
RHB Singapore Brand Marketing and Communications department
Tel.: +65-6320 6192/+65-6320 0637
Email: bmc@rhbgroup.com

Original-Content von: Wirecard AG, übermittelt durch news aktuell