KUALA LUMPUR, March 18 — Malaysia Aviation Group (MAG), which today launched the EnrichMoney Visa Prepaid Card and Application (App), expects the take-up rate of the e-wallet to grow in line with the travel industry’s recovery.
Phillip See, MAG chief executive officer of loyalty and travel solutions and group chief sustainability officer, said the product launch is part of MAG’s digitalisation milestone to provide Enrich members with more convenience and flexibility while traveling and it is timely as people are starting to travel and looking for seamless and cashless transactions.
“This shows our progression in transitioning Enrich from a conventional frequent flyer programme to providing holistic travel and lifestyle solutions.
“People want peace of mind; hence EnrichMoney complements their travel needs,” he told Bernama after launching the EnrichMoney Visa Prepaid Card and App.
The launch was held in conjunction with the Malaysian Association of Tour and Travel Agents (Matta) Fair 2023, which runs from March 17 to 19 at the Malaysia International Trade and Exhibition Centre here.
According to Visa’s International Travel platform data, total spending by Visa cardholders has returned to almost the 70 per cent level for Malaysia compared to before the pandemic in 2019.
See pointed out that the EnrichMoney is a separate app from MAG’s Enrich app which focuses on flight booking.
“The e-wallet EnrichMoney is powered by Merchantrade Asia Sdn Bhd, which includes Visa payment features.
“The multi-currency e-wallet allows travelers to buy and sell up to 20 foreign currencies in-app anytime, anywhere and enjoy the hassle-free travel experience that comes with its prepaid card,” he added.
In addition, with the EnrichMoney e-wallet, members can easily track their expenses and funds. The analytic feature allows users to not only check their balance and view their transaction history but also create savings boxes for specific trips or bills.