Tanzania introduces prepaid visa card in Chinese currency

Tanzania has introduced a new Visa Prepaid Yuan card to ease and facilitate transactions in China. The card is to help users get the exact value of the money deposited to them in Chinese currency and reduce the hassle of exchange rate uncertainties.

The Yuan is the latest to join other global currencies whose prepaid visa cards already flock the Tanzanian market. The country already has the United States dollar card, British pound sterling card, European Unions Euro card and the South Africa rand card.

Like other Visa cards, the Yuan card comes with a high-level security code chip and a PIN feature to keep the card protected. It also comes with a free instant Short Messages Service (SMS) notification service to keep its users informed of every transaction or purchase done online or through Point Of Sale (POS).

The Yuan card is being introduced for entrepreneurs and students living and visiting China. According to BancABC Head of Digital and Alternative Channels, Silas Matoi, “China has become one of the leading destinations of local entrepreneurs and students hence the need to exploit the market.”

Matoi also added, “there is no need to worry where the Visa prepaid card can be used as it is accessible 24/7 over 2.7 million Visa-branded Automated Teller Machine (ATM) worldwide and over 46 million Visa retail merchants  worldwide.”

BancABC, officially known as ABC Holdings Limited, is a pan-African financial services provider, headquartered in Gaborone, Botswana. Its parent company is Atlas Mara, a London listed entity.