In a major new development in the country’s banking payments sector, Israel’s Postal Bank plans to launch a dual-currency prepaid card its accountholders may use to shop on overseas retailers’ websites, the financial institution announced earlier this month.
Postal Bank is a financial-services institution that operates as a unit of Israel Postal Co. and offers a variety of services to its customers.
The Visa-branded prepaid smart card, scheduled to launch this week, will be the first dual-currency prepaid card in Israel, a Postal Bank customer service representative tells PaymentsSource.
Called the Visa Dollar Charger, consumers may use the card to make purchases abroad in shekels and in place of credit cards or cash. They also may use it to make online payments at retailers based overseas.
Users may reload their card account at Israel Post branches. For security, users enter a four-digit code to authorize transactions, she says.
Fees for the card were not disclosed.
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