Prepaid card in Botswana
Prepaid Financial Services (PFS), providers of payment solutions, launches a new prepaid card in Botswana. (view press release).The MADI Express Prepaid MasterCard provides financial payments solutions to customers and is a joint venture between PFS, Prepaid Debit Card Services (PDS), Kingdom Bank Africa Limited and MasterCard Worldwide.
The new card is available in the Pula (BWP) and allows customers to load funds using debit or credit cards, or a bank transfer. Customers with no bank accounts can load cash directly at registered locations.
CEO of PFS Noel Moran said: “The MADI Express Prepaid MasterCard card launch is another example of the growing adoption of prepaid cards in developing countries across the globe. PFS is uniquely positioned to provide full end-to-end prepaid solutions to clients and their customers throughout Africa, in collaboration with our partners. This launch represents the first of many programmes that PFS will roll out in the region, and we are delighted to be leading these prepaid developments across the African continent.”
The MADI Express Prepaid MasterCard can also be used by businesses to make payments to full-time employees and no-salaried workers who may hold informal employment but have no bank account.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
