deVere Vault launches Companion Cards

deVere Vault, the multi-currency e-money app, has launched Companion Cards after high customer demand.

deVere Vault launches Companion Cards

Customers of deVere E-Money’s  and its Mastercard prepaid card, can now add-on up to three cards that are linked to the primary account for family and friends. The app allows clients to spend, receive, store and transfer money in up to 27 different currencies.

Nigel Green, deVere group founder and CEO, commented: “When it was launched last year, deVere Vault met a growing need in an increasingly globalised world for our clients to have borderless access to and use of their money.

“A significant number of existing deVere Vault users were so impressed by the value of managing, spending and receiving money anywhere in the world without hassle and excessive exchange rates, that they wanted to share the benefits with their nearest and dearest.

“As such, client demand has driven deVere Vault to launch Companion Cards.”

The primary cardholder sets up the Companion profile in-app. If the physical card is lost or stolen, the card can be frozen, however, only the primary cardholder can unfreeze it. A Companion Card requires the recipient to be over 13 years old for the youth product and 18 years old for the adult product.

The system on which deVere Vault operates has been developed in association with Global Processing Services.

Suresh Vaghjinai, managing director at global processing services, added: “It is great to see how our GPS Apex issuer processing platform provides the flexibility for our clients to push their innovations. With the launch of the Companion Card, deVere are re-inventing how people can easily and securely manage finances, send and receive money with other members of their family anywhere in the world.

“It provides added peace of mind for the primary user in terms of ensuring a family member will always have necessary funds available and at the same time the card can be used to set a common family goal in terms of budgeting.”