For those who are always travelling out of Malaysia, this new service may be right up your alley. WorldKoins, in collaboration with AirAsia, allows travelers to exchange their leftover Malaysian Ringgit into online credits.
Simply put, WorldKoins makes it easier to exchange leftover Ringgit – especially in small amounts – into Koins credit. These can then be converted to gift vouchers, transferred to a user’s PayPal account, or even donated to charity organisations.
Currently, this service is also offered on selected AirAsia AK flights as part of a six-month pilot programme. Those who are on board certain AK flights out of Kuala Lumpur “can exchange their Ringgit denominated leftover monies into credits directly through on board smartphones,” said Martijn Langhout, the co-founder of WorldKoins.
While this service will definitely make it more accessible to use WorldKoins’ service, note that a 15% admin fee is charged for using the service on these AirAsia flights. However, WorldKoins uses interbank exchange rates without any hidden fees: transactions are first converted to USD before they’re exchanged to Koins credit.
In terms of value, 100 Koins equal to 1 USD, which can be used to redeem vouchers from various merchants including the Google Play Store, iTunes, Facebook, Lazada, Grab, and even Skype. If you’d like to learn more about this service, you can do so here and here.