Mustafa Sultan Exchange in Oman launched the country's first Maestro x-change prepaid card with Manama-based Arab Financial Services (AFC).
Talking to the media at the Al Falaj Hotel, Mukhtar Al Toblani, senior marketing manager, AFC, said: "The prepaid card has proved a convenient tool for travellers and since its introduction in Bahrain in December the x-change prepaid card has become very successful."
"We have introduced it in Qatar and now in Oman and will be taking this product to the UAE and the other GCC countries."
Al Toblani said they follow stringent rules of the regulatory authorities in Bahrain.
He brushed aside any apprehensions regarding misuse of the card.
"We have taken into consideration the possibility of usage by money launderers," he said, adding the tracking method used by them was foolproof.
Sashi Pongener of Must-afa Sultan Exchange said they will follow all the instructions and regulations of the Central Bank of Oman before issuing the prepaid card to customers.
The re-loadable prepaid card is accepted worldwide for cash withdrawal at more than 90,000 ATMs with the MasterCard or Cirrus logo.
"It can also be used to make over-the-counter purchases at merchant outlets accepting the Maestro card," Al Toblani said.
The prepaid cards are available in American dollars and euros.
A supplementary card will also be issued to access the account abroad as well as for immediate transfer of funds.
Gulf News
