PostBank Uganda with support from WSBI and FSD Uganda secured 260,000 USD from Financial Sector Deepening Uganda (FSDU) to develop the technology for a prepaid card payment solution that helps eliminate ghost beneficiary infiltration, provide cards that are highly secured and aimed at easing field payments. As this card does not require a Personal Identification Number (PIN), the funds on this card are free from losses that could arise following or during PIN compromises. This prepaid card, which was unveiled in the Kiryandongo resettlement camp, will provide refugees and other beneficiaries with access to affordable financial services.
FSDU representative Peter Kawumi commented “By rolling this out in refugee settlements, Post Bank has displayed its commitment to serving customers at the bottom of the pyramid in line with FSDU mission”
Unveiling this new prepaid card payment solution in a refugee settlement camp showcased Post Bank’s commitment to serve all customers. For a first time beneficiary, the bank captures the beneficiary’s details, enrolls them on the prepaid card system, issues the card, tops up beneficiary entitlements, loads the card with cash, and pays the customer.
Advantages of this Prepaid Biometric Card
• No need to memorize or store the PIN
• Eliminates prospective ghost beneficiaries
• Funds on lost card are redeemable and transferable to replacement card
• Card deactivation and reactivation associated delays are non-existent
• Card expiry period is flexible
• The program office has a great amount of control over card issuance process for new and replacement cards, eliminating beneficiary impersonation attempts
Visit Website