The MasterCard Multi-currency Cash Passport mobile app has been launched in South Africa. The free app allows users to easily transfer money between purses, review transactions, and track their spending on their phone.
The Multi-currency Cash Passport can be loaded with currency before departure and while traveling with one or more of the four available currencies including US Dollars, Great British Pounds, Euros, and Australian Dollars. The cardholder can use the card to pay for goods and services at millions of merchant locations or withdraw cash from ATMs wherever the MasterCard Acceptance Mark is displayed.
It also uses the mobile phone’s GPS to inform users where to find the closest ATM should they need to withdraw money.
Using the Multi-currency Cash Passport means travellers lock-in the exchange rate for each currency so they can budget. The Multi-currency Cash Passport is available from participating ABSA, FNB and of American Express Foreign Exchange branches.
For more data on Cash Passport access CardData®. For information and commentary on Cash Passport visit the searchable CardFlash® Library of more than 58,000 articles published since 1995. RAM Research® forecasts on Cash Passport are available exclusively through CardWeb.com.®