Malaysia Airlines Launches EnrichMoney Visa Prepaid Card and App

Dark/Light Mode (22/03/23)  Enrich, Malaysia Airlines' frequent flyer programme, has partnered with Merchantrade Asia to launch a prepaid card and app that includes Visa payment features.

The multi-currency e-wallet, officially known as EnrichMoney Visa Prepaid Card and App, is designed to provide a more secure and convenient way for Enrich members to make cashless transactions locally and when travelling overseas, while also rewarding them in return.

“This shows our progression in transitioning Enrich from a conventional frequent flyer programme to providing holistic travel and lifestyle solutions. They can now buy and sell up to 20 foreign currencies in-app anytime, anywhere and enjoy the hassle-free travel experience that comes with our prepaid card, while also reaping in rewards along the way,” said Philip See, Chief Executive Officer of Loyalty and Travel Solutions and Group Chief Sustainability Officer of Malaysia Aviation Group (MAG).

EnrichMoney Visa Prepaid Card and App is Malaysia Airlines' multi-currency e-wallet

Users can load up to RM 20,000 onto the card, which can be used to make purchases or to withdraw cash at ATMs worldwide that accept Visa, allowing members to lock in the exchange rate at the time of purchase and eliminate the risk of fluctuating exchange rates.

The multi-currency foreign exchange enables users to spend like a local with the best rates and zero fees on overseas transactions. Users can also engage the security feature to lock or limit spends on the card.

In addition, members will earn EnrichMoney Points whenever they spend a minimum of RM20 on retail and other transactions which can then be redeemed in the app for cashback.

Members also have the option to top up their e-wallet with either money or Enrich Points for more opportunities to gain cashback.

The analytic feature of the e-wallet enables users to not only check their balance and view their transaction history but also create savings boxes for specific trips or bills and more.

EnrichMoney can also be used to send money to family and friends, with instant and safe digital transfers via the e-wallet app remit feature.

“With many transitioning to digital and accelerating growth of digital payments, customer experience and having a strong value proposition have become more important than ever,” said Ramasamy K Veeran, Managing Director of Merchantrade Asia. “With products like EnrichMoney, we’re able to elevate the user experience, provide new levels of convenience that meet the evolving needs of consumers while remaining at the forefront of this digital wave. We’re excited to embark on this journey together with leading brands, Enrich and Visa, to extend our reach and serve millions with our tech-powered solutions.”

According to Visa’s international travel platform data, the total spend by Visa cardholders in Malaysia has returned to almost 70 percent of what it was in 2019 before the pandemic.

“With the return of travel by more consumers in the coming year and opening up of more borders globally, we are excited to partner Enrich and Merchantrade Asia to update the benefits and rewards of the EnrichMoney Visa prepaid card and app to cater to the needs of our valued cardholders. They can now load money on this card to convert up to 20 foreign currencies for face-to-face and online purchases and earn rewards seamlessly and securely as they travel and spend using this card,” said Ng Kong Boon, Visa Country Manager for Malaysia.

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