Volopa operates consumer and corporate multi-currency prepaid card programmes using its proprietary platform and offers businesses the ability to provide their own branded card programmes which are powered by Volopa. Customers can hold and spend up to 14 local currencies on the cards. The cards automatically detect the local currency when making purchases at merchants or ATMs abroad and use the local currency for the transaction with no additional conversion or foreign transaction charges typically associated with using debit or credit cards abroad.
Customers can also spend in any other currency as long as they have the base currency on the cards. The cards come with secure mobile and web based applications enabling customers to seamlessly manage their cards, monitor and control their expenditure on the go. This includes the ability to see transactions in real time, instantly top up and exchange currencies 24/7, block cards and transfer funds between cards.
Signing up for the card usually take less than 5 minutes based on the new customer onboarding process developed with Onfido. The company’s machine learning technology automates identity verification to enable secure and scalable user onboarding. Customers wishing to sign up for the Volopa cards take a selfie and a photo of their identity document; Onfido’s technology checks that the identity document is genuine, compares facial similarity and cross references the identity against international watchlists.
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