">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Thursday, January 21, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Tech

Nakumatt And MasterCard Partner To Launch Prepaid Card To Effect Cashless Transactions

Caroline Vutagwa by Caroline Vutagwa
7 years ago
in Tech
7 min read
0
Daniel Monehin, Division President SSA, MasterCard, tries out his new Nakumatt MasterCard
Daniel Monehin, Division President SSA, MasterCard, tries out his new Nakumatt MasterCard

Leading Regional East African retail chain Nakumatt Holdings Limited together with MasterCard has unveiled the Nakumatt Global Prepaid MasterCard card.

The card has been made possible by the two partnering with  Kenya Commercial Bank and Diamond Trust Bank.

The new card, which is EMV compliant, replaces the current Nakumatt Cybercash loyalty smartcard and provides a range of enhanced benefits and security features.

With the multicurrency Nakumatt Global Prepaid Mastercard card, existing Nakumatt smartcard holders will continue accumulating their smart points for all purchases made across Nakumatt outlets.

Nakumatt Holdings Managing Director Atul Shah confirmed that plans are now underway to revamp the firm’s range of financial products and services as part of a wider strategy to provide convenient retail financial solutions such as utility bill settlements, insurance products, cash back, FOREX trade and money transfer services at Nakumatt tills..

“At Nakumatt, we have managed to integrate a most advanced Payment Gateway switch linking us with other financial service providers to facilitate the robust delivery of a number of financial services and products,” said Shah.

The new card also features MasterCard contactless technology, which offers consumers a ‘tap and go’ option. Although new to Kenya, contactless payment technology is touted as the answer to those seeking fast yet secure modes of payment, and is supported by multi-level security protection.

Related posts

kplc

Kenya Power Rolls Out A Smart Metering Project Across The Country

January 21, 2021
0
123movies

4 Best Free Movie Streaming Sites In Kenya

January 21, 2021
0

Sophos Named Common Vulnerability and Exposure Numbering Authority 

January 20, 2021
0

Your Ultimate SEO Audit Checklist for 2021

January 20, 2021
0

“The card is a true reflection of Nakumatt’s and our other partners’ resolve to triumph over adversity,” said Daniel Monehin, Division President, Sub-Saharan Africa at MasterCard. “The Nakumatt Global Prepaid MasterCard card is a great win for this market and a proof that MasterCard’s vision of a world beyond cash is not only possible but is actually happening. Today, 85 percent of the world’s transactions are still carried out in cash and cheque,and  98 percent in Kenya.”

READ  Ericsson Is Now Responsible For Algeria’s LTE Network

KCB Group CEO,Joshua Oigara said: “KCB is a regional Bank and therefore our customers across East Africa will enjoy more convenience and choice. The Nakumatt Global Prepaid MasterCard is one such product and we are proud to have partnered in the process of bringing it to pass. ”

Nasim Devji, Group CEO and Managing Director of Diamond Trust Bank commented: “Promoting economic development in working towards Kenya’s Vision 2030 is an extremely important driving force for DTB.  The Nakumatt Global Prepaid MasterCard card is about providing an exceptional value proposition through loyalty points, tap and go technology, savings on foreign currency, and more. All these whilst providing consumers peace of mind by embracing security features such as EMV chip which is fast becoming a global standard”

The Nakumatt Global Prepaid MasterCard card also has multicurrency capability which allows consumers to upload the prepaid card with either: Kenya Shilling (KES), U.S. Dollar (USD), Euro (EUR), British Pound (GBP), Indian Rupee (INR), South African Rand (ZAR) and the Australian Dollar (AUD). As a result, cardholders can load money for purchases at POS terminals, make cash withdrawals and online purchases as well as save on the costs incurred in multi-currency transactions.

Nakumatt plans to replace its old generation Smart Cards with the Nakumatt Global MasterCard prepaid card. The cards will be available from all Nakumatt outlets and also from selective branches of the partnering banks, beginning with Kenya before rolling out to Tanzania, Uganda and Rwanda where Nakumatt operates.

Readers 1,161

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Caroline Vutagwa

Caroline Vutagwa

Minding my own business is not enough for me that's why you will always find me minding Africa's Businesses as well as Technology and of course letting you know about it. Talk to me on [email protected]

Related Posts

kplc
Tech

Kenya Power Rolls Out A Smart Metering Project Across The Country

January 21, 2021
0
123movies
Tech

4 Best Free Movie Streaming Sites In Kenya

January 21, 2021
0
Tech

Sophos Named Common Vulnerability and Exposure Numbering Authority 

January 20, 2021
0
Hacks & Facts

Your Ultimate SEO Audit Checklist for 2021

January 20, 2021
0
Tech

Safaricom Will Allegedly Allow The National Intelligence To Illegally Forward Your Calls

January 20, 2021
0
Tech

Safaricom Foundation’s Ndoto Zetu Supports 2,000 Students in Six Counties 

January 20, 2021
0
Tech

Tatu City Partners with Konza to Attract Investors to Kenya

January 19, 2021
0
searchengineland.com
Tech

SEO for Beginners: Where to Start and What You Need

January 19, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Aerobotics Raises $17 Million Led by Naspers To Scale AI for Agriculture Globally

January 21, 2021

Tanzanian money remittance startup NALA is launching in the UK

January 21, 2021

Startup Guide to release of Startup Guide Nairobi

January 21, 2021

Nokia C1 Plus now available in Kenya for Ksh 9,000

January 21, 2021
kplc

Kenya Power Rolls Out A Smart Metering Project Across The Country

January 21, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: