Multi-currency prepaid travel card 'Gocash' launched

In a foretast of what awaits the Indian traveller, the UAE Exchange, a remittance and foreign exchange outfit, today launched Gocash, a multi-currency prepaid travel card in the Middle East market. Customers can load up to six currencies out of a bouquet of 15. The card can be used across 34.3 MasterCard-enabled merchant locations and 1.5 million ATMs across the world, as well as for online purchases.

In a normal prepaid card that is used across countries, the exchange rate is whatever is available at the place of use at the time of use. In Gocash, the exchange rate can be locked at the time of purchase, according to a release by UAE Exchange and MasterCard. The product is expected to be launched soon in India and other markets as well.