Technology firm MasterCard has launched its multi-currency cash passport mobile application in South Africa.

According to MasterCard the mobile app would allow multi-currency passport cardholders access to manage their accounts from anywhere in the world.

The free app is available for Android and Apple operating systems, and users can transfer money between purses, review transactions, and track their spending on their phone.

The app also uses the mobile phone’s GPS to inform users where to find the closest ATM should they need to withdraw money, says MasterCard.

“The application makes it convenient for users to keep control of their payments abroad, as it holds all the information that they need about their Multi-Currency Cash Passport,” said Rajeev Kumar, general manager, Access Prepaid Worldwide, Middle East and Africa, MasterCard.

The Multi-currency Cash Passport is available from participating ABSA, FNB and American Express Foreign Exchange branches.