Arab Financial Services launches first prepaid card in the region
Arab Financial Services (AFS) has launched the x-change card, a prepaid MasterCard card that can be loaded with cash and used for both cash withdrawals and making purchases at various outlets worldwide.
The new x-change can be loaded and reloaded with cash at any of the direct sales agents of AFS such as banks or exchange houses. “Launching x-change card at this time in particular is ideal to replace the travelers cheques issued by AFS since 1984,” said AFS Chief Executive, Mahmood Al-Koufi.
“The launch of x-change card is the result of close co-operation with MasterCard International through introducing worldwide card acceptance services to x-change card customers, as this card acts as a practical tool for carrying cash safely, in addition to keeping control of expenses. It is the ideal payment method for travelers, students and companies wishing to control their staff expenses,” added Al-Koufi.
AFS was established with a capital of $45 million. It is owned by 55 Arab banks operating throughout the region. AFS provides its services from the Kingdom of Bahrain to over 70 banks of its client base in the Middle East. The Bahrainization level in AFS accounts for more than 80 percent of the company’s workforce. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
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