Romania’s Raiffeisen Bank has teamed up with RevEurope to launch the country’s first prepaid Visa card that allows users to transfer money domestically using their mobile phone.
Aimed at “young and cash-based Romanians” who go online, the Raiffeisen Bank Visa Prepaid Card is also the country’s first prepaid debit card.
Users can purchase a card “off the rack” from a number of Raiffeisen branches in Bucharest. They can load it up with credit to shop over the internet, make purchases wherever Visa cards are accepted and withdraw cash from ATMs anywhere in the world, the bank says.
They can also use it to send money within Romania using their phone and check their balance via text message. In addition, cardholders can manage their account online.
Raiffeisen says it plans to roll out the availability of the card to a number of retailers, to allow them to participate in Romania’s “fast-growing financial services market”.
Razvan Munteanu, vice-president of Raiffeisen Bank’s retail division, says the card would benefit consumers looking for “a flexible, safe and accessible cash alternative”.
According to a recent study by Arthur D Little, mobile payments are expected to be worth $250 billion worldwide by 2012.
D.C.