BFC Payments launches an advanced multi-currency travel card

Bahrain January 12, 2023

BFC Payments B.S.C. (C), the Fintech arm of BFC Group Holdings, has partnered with M2P Fintech, Asia's largest API infrastructure company, to launch an advanced multicurrency card, TRAVEL BUDDY. BFC Pay Travel Buddy Card offers international travelers great convenience as it allows for fast top-ups, instant currency conversion, worldwide shopping, dining and lots more. The technology stack for issuing the card is powered by M2P Fintech along with Visa as the network partner.

With the surge in business and leisure travel post-pandemic, a safe and seamless digital payment instrument like the multi-currency prepaid card becomes crucial for the traveler. A significant advantage of the BFC Pay Travel Buddy card is the ability to load up to six different currencies, and the exchange rate lock feature which allows the forex (FX) rate to be fixed at the time of loading the card. BFC Pay Travel Buddy Card leverages the best of M2P's 'Cards Suite' to provide consumers with instant, safe and seamless payment choices.

Davis Parakal, General Manager, BFC Payments

“For Travel Buddy, we wanted an end-to-end superior digital experience for our customers. Be it applying for the card or loading the money or buying FX, all could be done instantly through our mobile app, BFC Pay. We want customers to not just travel cash free but also to give them the best economical solution on all their international spends be it booking tickets online or shopping”

Ebrahim Nonoo, MD & CEO, BFC Group Holdings

“BFC Group has been in the forex business for more than a century now and all we have done is give a complete digital solution for the thriving need of the market. Being one of the leading digital fintech players in Bahrain, BFC Payment's primary focus is on easing and enhancing customer experience and Travel Buddy is a testament to our commitment to that digital transformation. I am excited to welcome our existing customers and new ones to experience their Travel Buddy”.

Vaanathi Mohanakrishnan, Business Head, MENA, M2P Fintech

“We are excited to partner with BFC Payments to offer the multicurrency travel card. M2P's Cards Suites, which enable over 30 million payment instruments in Asia, has innovation at its heart. The versatility of prepaid travel cards is just another illustration of M2P's ability to develop tailor-made solutions to meet the diverse requirements of consumers and maximize customer delight.”

Here are some of the salient features of the card:

  • Currencies accessible on the card: The card can be loaded with six different currencies (USD, GBP, EUR, SAR, AED and BHD) with fixed exchange rates
  • Protects from foreign exchange volatility: Being a prepaid forex card, the foreign currency balance is safeguarded against currency fluctuations
  • Works on Visa platform: The BFC Pay Travel Buddy card is powered by Visa and is accessible across all Visa Platinum platforms.
  • No charge for the card: There is zero loading or FX buy charges on the card.
  • Fully digital: Card can be applied and managed through BFC Pay mobile app
  • How to top-up: Card can be easily loaded with any debit card from a Bahrain bank

About BFC Payments

BFC Payments B.S.C, launched four years ago under Bahrain's Group holding, has come a long way in the field of digital payments within a short span of time. BFC Payments is licensed by the Central Bank of Bahrain (CBB) as an Ancillary Service Provider and a leading player in mobile and salary wallets, prepaid cards, mobile payments, cross border remittance, etc.

About M2P Fintech

Founded in the year 2014 and headquartered in Chennai, M2P Fintech is Asia's largest API infrastructure company offering a wide gamut of services that enable businesses of any scale to embed financial services. M2P Fintech is an omnichannel platform that operates in over 20 markets across the Asia Pacific, MENA and Oceania regions. M2P works with over 100+ banks, 100+ NBFCs, and has clocked over 600+ Fintech engagements across various industries serving over 35 million end users. M2P pioneers next gen fintech through innovative offerings across the payments, lending, and banking ecosystem. Our comprehensive tech-stack powers the core banking system, core lending suite, BNPL, customized credit cards, prepaid cards, and much more.

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Vidyalakshmi Addhepalli