Nakumatt collaborates with MasterCard to launch new card to over one million customers

The new card is EMV compliant.

Nakumatt Holdings Limited has launched the Nakumatt Global Prepaid MasterCard card, in partnership 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 Global Prepaid MasterCard cardholders will also earn smart points for purchases made with the card at any of the over 35.9 million acceptance points, including 2.1 million ATMs, where MasterCard is accepted worldwide.

Nakumatt Holdings Managing Director Atul Shah “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. The transformation of the Nakumatt Smart Card to a Prepaid MasterCard card confirms our readiness to facilitate a general evolution of the local retail financial services, subject to regulatory approvals.”

“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 per cent of the world’s transactions are still carried out in cash and cheque. In Kenya, this figure stands at over 98 per cent, and we believe that the launch of this card will be a notable victory for the push for increased cashless transactions.” said Daniel Monehin, Division President, Sub-Saharan Africa at MasterCard.

Nakumatt plans to replace its old generation Smart Cards with the Nakumatt Global MasterCard prepaid card with immediate effect. 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.

Related reading

Leave a comment