The reloadable card supports chip-and-PIN security and enables users to load funds from the Payza wallet app. The card can be used to make payments online, at the point of sale and to withdraw cash at ATMs, the company said in an Aug. 10 press release.
Payza has built a following in recent years by providing payments services for unbanked and underbanked consumers around the world, and tested the new product in Pakistan beginning in January before deciding to expand worldwide, the company said.
“Because our users cross generations, continents and occupations, we want to offer them a product that fits their lifestyles,” said Firoz Patel, Payza’s global executive vice president, in the release.
Supporting the card globally could be a challenge for Payza, but the company hopes to offset costs with a one-time purchase cost of $19.95 and a $1 a month maintenance fee that applies after the card is dormant for more than three months.
Payza has regional offices in New York, Mumbai, India; Dhaka, Bangladesh and Solna, Sweden, and it supports online payments and remittances in 21 currencies.
