TransCash, a US-based financial services company, has launched a new financial product which facilitates money sharing from card to card in the UAE.
The newly launched TransCash MasterCard Prepaid Money Sharing Cards can be purchased at malls, supermarkets, Metro stations, petrol stations and retailers.
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The company is selling its newly launched cards in sets of two. The cards will have a separate account but will be linked for money sharing from card to card.
The primary card holder will keep the Green card and can give the Red card to his or her immediate family member who can be located in the UAE or overseas.
The cardholder will be offered up to 10 supplementary cards on which money can be loaded and given to family or friends anywhere in the world.
According to TransCash, the cardholders can use original and supplementary cards to shop at retail outlets, make online purchases, withdraw money at any of the 2.1 million ATMs worldwide where MasterCard prepaid cards are accepted.
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By GlobalDataIn UAE, the cards will be issued by Finance House and processed by Network International under a license by MasterCard International.
