What's Happening?
Liv, a digital bank by Emirates NBD, has introduced a multi-currency Visa card that facilitates international transactions by automatically routing them to the appropriate currency account. This innovation marks a global first for Visa Flex Credential
technology, specifically in its application for multi-currency cross-border transactions. The card allows customers to hold and spend in AED and five major global currencies, including US dollars, British pounds, Euros, Canadian dollars, and Australian dollars. The accounts are managed in real-time through the Liv app, catering to the UAE's significant population of frequent travelers and international shoppers.
Why It's Important?
The launch of Liv's multi-currency Visa card represents a significant advancement in digital banking and cross-border financial transactions. By enabling seamless currency management, the card addresses the needs of global travelers and international shoppers, offering convenience and potentially reducing transaction costs. This development highlights the growing trend of digital banks leveraging technology to enhance customer experience and expand their service offerings. The introduction of such innovative financial products can drive competition in the banking sector and encourage further technological advancements.
