The Armed Forces & Veterans have launched their AF&V Privilege prepaid MasterCard for serving personnel and veterans of the British Armed Forces.
The card was developed by former servicemen and commercial specialists, and is accepted worldwide in-store, online or over the phone.
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Cardholders and their dependents are able to receive up to 10% cashback at selected retailers, and can withdraw money at ATMs that display the MasterCard acceptance mark.
There are no transaction fees or monthly account charges. Cardholders have a low risk of getting into debt as the card uses a pay-as-you-go method.
President of MasterCard UK & Ireland, Marion King, said: "MasterCard is committed to helping all sectors of society and our Armed forces and veterans deserve a product that helps them pay wherever they are in their unique circumstances."
Revenue generated from the AF&V Privilege card will support service charities, as well as providing education, accommodation and employment support.
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By GlobalData
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