November 7, 2021 – Croatia’s very first Aircash mobile wallet now offers its users prepaid cards. Aircash was a real novelty here in the Croatian market, and it looks like they are now ready to go further.
As Bernard Ivezic / Novac writes, Aircash, the very first Croatian fintech to launch its own mobile wallet, has now become the first national startup to issue its own card. Croatian mobile wallet Aircash presented its partnership with Mastercard in the city of Zagreb on Thursday, and as a result, Aircash now offers a Mastercard in addition to its mobile application, similar to the cards offered by the British company Revolut and KEKS Pay de Banque Erste.
Hrvoje Cosic, founder and director of Aircash, says this made it the first financial player in all of Croatia to issue Mastercard cards without actually being a bank.
” These are prepaid cards that are exclusively linked to Aircash wallets and their balance, they have no fees, and we do not plan to introduce monthly subscriptions and therefore believe that we have a competitive product on the market and prices, ” Cosic said, adding that here they are setting a precedent in the Croatian market in terms of distribution. Cards will not be ordered, as they usually are with other apps, but an empty Mastercard will be purchased at a kiosk, gas station or store and then activated through the Aircash app by scanning the QR code .
“Thanks to this, the card becomes active immediately, it is then connected to the funds available to the user in their Aircash wallet and it can be used to pay for things anywhere in the world,” Cosic explained, adding that the card can be managed within the Aircash app. It means monitoring and controlling consumption, setting a limit and it is all enforced instantly.
Two years ago, this Croatian startup received a European license for electronic money from the CNB and thus offered its mobile wallet services. He then entered into cooperation with a number of Croatian Lottery retailers through HAC to Telecom. Since the start of the year, the Croatian Aircash mobile wallet has increased the number of users in Croatia by 70% to over 200,000. In total, it is closer to the number of a quarter of a million users , because it also has many users in Slovenia and Austria.
For more information, see Made in Croatia.