KIB launches Visa Corporate Prepaid Card, enhancing flexible business payments

Kuwait International Bank (KIB), in partnership with Visa, announced the launch of its new Visa Corporate Prepaid Card, making it the first bank in Kuwait to offer this service. The card is designed to be a smart and secure solution for managing company expenses through virtual cards and digital platforms. 

Leveraging the capabilities of the Visa Commercial Pay (VCP) platform, the card combines secure virtual payment technology with centralized expense management, giving businesses a powerful tool to control spending, improve efficiency, and streamline financial operations. The new card provides companies the flexibility to issue unlimited virtual cards for employees under the company’s name, all funded through a single primary Prepaid Card.

The new Visa Corporate Prepaid Card offers a comprehensive range of benefits, including compatibility with digital wallets such as Apple Pay, global acceptance, enhanced spending control, and detailed transaction visibility. These features provide companies with the ability to monitor, manage, and authorize corporate expenses securely and in real time, reducing administrative workload and improving cash flow management.

Commenting on the product launch, Hesham Al Mubaraki, General Manager of the Wholesale Banking Department at KIB, stated: “We are pleased to launch the new Visa Corporate Prepaid Card, which embodies our commitment to providing our clients with unique digital banking solutions.” He added: “Our partnership with Visa reaffirms our commitment to innovation and to delivering banking solutions that place the customer at the heart of our priorities. This card provides companies with unprecedented levels of expense control and enhances the efficiency of their financial operations, while also offering greater flexibility in today’s business environment. It delivers essential services and benefits for companies seeking to enhance their financial management and achieve the highest levels of transparency and efficiency.”

From his side, Mohamed El-Shareef, General Manager of the Digital Innovation and Data Intelligence Department at KIB, said: “The launch of this card aligns with the Bank’s strategic direction to empower companies to adopt smarter digital operating models built on data and effective financial governance. Integration with the Visa Commercial Pay platform enables companies to gain real time visibility and more accurate insights into their spending, supporting better decision making while enhancing compliance and transparency. At KIB, we believe that true innovation goes beyond providing advanced payment tools; it lies in building an integrated digital ecosystem that enhances operational efficiency and supports business growth in a rapidly evolving digital landscape.”

Mohammed Reyad, Visa’s Country Manager for Kuwait, said: “We are delighted to introduce Visa Corporate Prepaid Card program with KIB, offering local businesses and corporates a more efficient and secure way to manage their payments and expenses. By leveraging Visa Commercial Pay, we are delivering advanced virtual payment technology and expense management tools that help companies streamline operations. This launch also reflects Visa’s ongoing commitment to supporting Kuwait’s vision for a thriving digital economy and ensuring that the benefits of digital payments reach businesses of all sizes across the country. As we move forward, Visa remains dedicated to working closely with our partners like KIB to further drive payments innovation in the business sector and support Kuwait’s efforts in growing the country’s digital economy.”

The new Corporate Prepaid Card is now available for eligible corporate clients. To apply, clients can visit a KIB Corporate Branch and request the card.