Money Partners Group’s subsidiary and forex broker, Money Partners revealed that the broker formed a business tie-up related to multi-currency prepaid card with Daiwa Next Bank on November 26.
Along with offering forex trading, Money Partners has also provided a multi-currency prepaid card “Manepa Card” since September 2014. The card users can add 5 currencies such as USD, EUR, GBP, AUD, HKD to the prepaid card which is available at Master Card affiliated stores all over the world. By taking advantage of its function of foreign currency settlement, Daiwa Next Bank and Money Partners reached this agreement to issue the prepaid card for customers who hold foreign currency saving account at the Bank.
Foreign-currency-denominated assets including foreign currency saving totaled 42.6 trillion JPY during 2015Q2 according to statistics by the Bank of Japan. The total amount has been increasing yearly and this proves the need to use their foreign currencies as it is when they travel to foreign countries is growing.
The two companies expect that this collaboration could improve the convenience for foreign currency saving account holders at the Bank. The details of the collaborating prepaid card and schedule of its launch will be announced later.
(Source: Money Partners)