Fintech solutions firm KABN Systems North America has partnered with card issuer XTM to launch Pegasus Flyte prepaid card in Canada.

The new card allows customers to spend fiat and also digital currencies for in-store as well as online transactions.

Pegasus Flyte card is powered by KABN’s Always On identity verification and validation services.

Cardholders will also be eligible for personalised financial services, certain merchant loyalty and incentive programmes and additional value-based benefits.

In addition, users can choose to participate in customised KABN KASH consumer experience that is meant to allow users to save money with each transaction at select merchants.

The card is also backed by the XTM Payment Platform. Customers will be able to spend currencies from approved financial institutions, Exchanges, wallets and loyalty programmes.

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Pegasus Flyte will be accompanied by a mobile app and various banking programme services.

KABN global CEO Ben Kessler said: “We are very excited to be rolling out our Pegasus Flyte card programme in North America. We looked for a partner who not only could get us to market quickly but who could also do it effectively, and efficiently without missing a step. XTM is that partner for KABN.”

The new Pegasus Flyte prepaid card is scheduled to launch in the fourth quarter of this year. It will target Gen Z, Millennial and late Gen X customers, the companies said.