Moneymailme, a social money transfer app, and payments technology firm Prepaid Financial Services (PFS) have entered into a partnership that will provide Moneymailme users with access to virtual and physical cards.
The agreement was announced at Money 20/20 Europe in Copenhagen.
All Moneymailme cards will be linked to multiple currency wallets, which will allow cardholders to keep a number of currencies in different wallets.
When cardholders make a transaction, the currency of the transaction will be debited from the matching currency wallet rather than reverting to a traditional one base currency card.
Moneymailme founder and CEO Mihai Ivascu said: “The new cards will provide a valuable spending tool for new and existing Moneymailme users and will be a great option for those wanting to make payments with the money they have in their Moneymailme e-wallets.
“Social media platforms and easy to use technology are incredibly important to young people. As the leading social payment app, we wanted to make sure that we were offering our users a complete seamless solution for them to manage their money.
“By deciding to remove deposit fees, we are making our platform more accessible for all those seeking a fast, reliable, cheap and enjoyable way to send money to friends and family.”