Kenya Medical Association (KMA) and Absa Bank Kenya have partnered to launch prepaid multi-currency smartcards. The cards serve as both membership identification and prepaid card, allowing doctors to make electronic payments and take advantage of additional financial incentives.
Relationship management, credit access with company unsecured loans of up to KES10 million, personal unsecured loans of up to Ksh. 6 million, and tailor-made asset financing and mortgage facilities with lower interest rates will all be available to KMA members. They will also be eligible for an Absa Platinum or Gold credit card, which will provide them with convenience, security, ease, and a contactless payment option for their transactions.
“The new proposition is aligned with the bank’s strategy to accelerate organic growth through sector-focused customer and product segmentation to enhance competitiveness,” said Absa Bank’s Head of Premier Banking Simon Gachahi.
Under this partnership, medical professionals licensed by the Kenya Medical Practitioners and Dentist Council (KMPDC) and practicing in both private and public health care sectors will receive prepaid cards that will also act as a KMA membership card. Members can load funds onto these cards using Absa online banking, MPESA, or a visit to any Absa branch. KMA can also load funds onto any member’s card who is representing KMA in travel or other activities.
The partnership comes as the country’s banking sector accelerates the use of digital money systems, making digital payments vital in the past-pandemic era.
“We have been speaking to our customers and professionals from different fields in a bid to understand their specific needs and this new proposition for our doctors is just one among many others that we are rolling out for our customers in various disciplines. For instance, this collaboration will see the delivery of differentiated customer experience and innovative solutions that speaks to the doctors’ life cycle,” Simon Gachahi emphasized.