Instarem Launches ‘amaze’, APAC’s First Smart Card That Lets Users Pair Up To Five Bank Cards

Meet amaze_Instarem x Mastercard

The brilliance behind amaze is the innovation that allows a single smart card to serve as a one-stop payments solution. Users can look forward to lighter wallets and heavier rewards as they pair up to five bank cards to their amaze card. They will be able to enjoy an additional 1% cashback on purchases, stacked on top of their bank rewards*. With no top ups required, customers can also save on FX payments and manage their spends with just one card. ‘amaze’ is backed by Mastercard.

Instarem, fintech unicorn NIUM’s digital cross-border payments arm, today announced the launch of its amaze card. The card is available for users in Singapore, with plans to make it available regionwide in the near future. Users can place a request for the amaze card through the Instarem app, free of charge.

‘amaze’ is more than just another card – it’s a smart card that serves as a one-stop payments solution, helping customers take control of and making the most out of their payments. Instead of adding yet another card to overcrowded wallets, amaze simplifies by allowing customers to keep, pair and maximise the use of their legacy bank cards. ‘amaze’ works as both a virtual and a physical debit card and because it’s linked to existing bank cards, customers can skip having to regularly top up a digital wallet.

Ho Chee Wai, Country Head, Singapore & Vice President of Neobank and Cards Strategy at Instarem, said, “’amaze’ is a game-changer. The way customers pay since the onset of COVID-19 has become undoubtedly more digital, with the pandemic accelerating the adoption of online and contactless payments. Having a physical wallet full of credit/debit cards, or even a whole folder of payment apps on your smartphone is slowly becoming outdated. At Instarem, we believe in making money simple and amaze does exactly that and more, with additional cashback, great FX rates for foreign currency purchases and no hassle of topping up e-wallets.”

‘amaze’ allows consumers to use the credit limit of their linked cards seamlessly. This means, no need for top ups as well as a higher transaction capacity than other multi-currency cards in the market. This is especially useful for online shoppers, freelancers or entrepreneurs looking for convenient and cost- effective ways of making payments online. Moreover, customers enjoy even more benefits with Mastercard’s World Debit card tier unique privileges, including zero liability protection and e- Commerce Protection.

Deborah Heng, Country Manager, Singapore, Mastercard, said, “Consumer choice is at the heart of Mastercard’s strategy – delivering the flexibility in how they want to spend their money. This is reinforced by people’s desire for choice as revealed by Mastercard New Payments Index where 85% of consumers in Asia Pacific expect to make purchases when they want and how they want. Mastercard is thrilled to partner Instarem to transform the future of digital payments and be part of their vision to empower consumers to take control of their everyday payments while providing them a safe, secure and seamless payment experience.”

The launch of amaze in Singapore comes off the back of Instarem’s recent rebranding announcement earlier this year. The company seeks to go beyond simply enhancing consumer remittance globally, moving towards being the change-driver by solving complexities around global payments – empowering customers to do more with their money in an intuitive, transparent, and cost-effective way. Instarem’s vision is to become an all-in-one consumer app that makes money simple for customers around the world.

Customers can register for the amaze card by downloading the Instarem app on the Google PlayStore (for Android users) or on the App Store (for iOS users). They can use their virtual cards with immediate effect, while waiting to receive their physical cards. ‘amaze’ supports Mastercard PayPass contactless payments and can be used at all Mastercard acceptance points, including those for payment on public buses and trains.

Instarem currently operates in six continents and over 100+ markets, serving more than 130+ million end customers. More than $6 billion in transaction volumes are processed annually, and 60% of payments are made in less than 15 minutes. For more information, please visit http://www.instarem.com/.

 

*Subject to the bank’s terms and conditions.

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