A global fintech targets social groups that cross borders

Consumer demands for instant, convenient cross-border payments are rising as more activities and jobs ignore national borders — but these benefits don't help if they don't extend to the user's social circle.

Multi-currency prepaid cards are a great way to avoid bank charges associated with international transactions, said Zil Bareisis, a senior analyst at Celent, noting they'll likely remain prepaid cards over debit. "I don't really see debit cards going multi-currency, unless the underlying account changes," he said.