Equiti launches prepaid Mastercard and prepaid card mobile app

Rick Steves

Equiti also announced it is in the advanced stages of other innovative payment solutions that will be launched in Q3 2021.

Equiti has introduced the industry’s first fully-integrated prepaid Mastercard and prepaid card mobile app linked to traders’ trading accounts, the firm stated.

The launch was made possible in partnership with card issuer Gate to Pay, which will help Equiti users to transfer funds to their trading accounts with no fees, top-up their card balances, and monitor their transactions on their mobile phones.

Card holders can use them for regular daily transactions such as withdrawal of funds at ATMs, online and point-of-sale purchases, or even international payments, and are eligible for the normal Mastercard benefits.

Gareth Bateman, Global Head of Payments for Equiti, said: “We are delighted to have developed such an intuitive payment tool which makes it easy for traders to transfer funds to and from their accounts. At Equiti, we are constantly applying ourselves to assure the payment experience is as seamless and secure as possible.

“With the complexities of e-commerce payments and our understanding of local payment solutions on a global scale, we believe the Equiti prepaid Mastercard card will widely appeal to traders to facilitate the ease of trading.”

“Before the official launch of the Equiti prepaid Mastercard card and app, traders were informed of the offering and the demand showed a roughly 250% higher uptake rate than originally planned”, Mr. Bateman added.

Mohamed Alahmad, managing director for the Middle East region at Equiti, commented: “Our clients are always at the heart of our business. We take our traders’ feedback and requests seriously and use it to develop innovative offerings and solutions to deliver a superior trading experience.

“Equiti aims to make our client’s experience a global market disruptor so we are thrilled to introduce this first of its kind payment solution to Equiti’s offering.

“The Equiti prepaid Mastercard is another step toward achieving our mission to be at the forefront of innovation in the fintech sector”. Mr. Alahmad stated.

Yazan Hamdan, Head of Business at Gate to Pay said: “We are extremely honored about our partnership with Equiti and for the opportunity to elevate their offerings and customer experience with our solutions.

“Through our BaaS (Banking as a Service) offerings, we aim to enable partners to offer digital banking products and solutions for their clients. Equiti is a fast-growing, innovative, market leader, adapting to the latest trends and sets a clear example for the industry”.

Equiti also announced it is in the advanced stages of other innovative payment solutions that will be launched in Q3 2021.

 

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