Welcome!

Agile Computing Authors: LeanTaaS Blog, Yeshim Deniz, Elizabeth White, Larry Alton, Pat Romanski

News Feed Item

Prepaid Financial Services Launch MADI Express Prepaid MasterCard Card in Botswana

LONDON, November 12, 2012 /PRNewswire/ --

- Ground breaking industry collaboration to introduce a more financially inclusive payment solution

Prepaid Financial Services (PFS) has announced the launch of the MADI Express Prepaid MasterCard card in Botswana, in a move that introduces more innovative and financially inclusive payment solutions to the country.  The prepaid card is a collaboration between PFS, Prepaid Debit Card Services (PDS), Kingdom Bank Africa Limited and MasterCard Worldwide, and will introduce more convenient, quicker and safer ways to transact to Botswana's citizens.

The MADI Express Prepaid MasterCard card is available in Botswana's local currency, the Pula (BWP), and represents the first MasterCard Prepaid card to be launched and issued in Botswana. This introduction of a prepaid payment solution will assist stakeholders develop a more financially inclusive and modernised economy, by empowering consumers, businesses, retailers and the government to operate more efficiently with less dependence on cash.

The MADI Express Prepaid MasterCard allows cardholders to load funds with ease using their debit or credit cards, a bank transfer, or by loading cash directly at registered locations, for those customers without bank accounts.  Purchases such as mobile airtime, groceries, tickets for events and travel can be made, and the prepaid card will also enable cardholders to pre-load funds to use the card as an electronic savings wallet, helping cardholders save funds for larger purchases.

Noel Moran, CEO of PFS stated: "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 prepaid card removes the need to carry cash, and will give users access to electronic payments via ATM's and point of sale (POS) terminals across Botswana, and at 33 million MasterCard acceptance locations around the world," commented Charlton Goredema, market manager, Southern Africa, MasterCard Worldwide. "The MADI Express Prepaid MasterCard card is expected to appeal to consumers who are conscious about budgeting and money management, as well as those who are risk averse and looking to reduce their exposure to fraud.  A formal bank account is not required to apply for the card, which means that the safety and convenience offered by this innovative product can be accessed by all of Botswana's citizens."

"With features such as SMS account management, real time card blocking by SMS, and the ability to have linked primary and secondary cards, the MADI Express Prepaid MasterCard card allows cardholders to share money with other cardholders.  Parents can now provide their children with access to funds while exercising a degree of financial control, helping to educate these young adults to budget and manage their money without the risk of getting themselves into debt," Moran added.

In the near future users will also be able to make bill payments for utilities such as water, electricity, gas, cable TV, mobile phones and broadband, by using their MADI Express Prepaid MasterCard card and further enhancements are already underway to allow users to purchase their card and load it with cash at various stores and retail outlets across Botswana.

Favor Kelapile Marebole, Group Managing Director at Prepaid Debit Card Services, was delighted with the launch and commented: "The launch of the MADI Express Prepaid MasterCard card in Botswana, in partnership with reputable global payments service providers like PFS and MasterCard, is a key milestone in our efforts to address challenges faced by the country's under-banked and unbanked communities."

"These challenges are mostly felt by the poor and middle income communities in rural areas - almost 36% of the total Botswana population.  We are excited about the positive implications that this payment solution will have for these citizens, a sentiment echoed by all stakeholders including public sector organisations, NGOs and the private sector," Marebole noted.

Peter Mukunga, Acting Managing Director at Kingdom Bank Africa Limited commented "We are delighted to partner with Prepaid Financial Services and MasterCard in bringing the MADI Express Prepaid Card product to Botswana. It is clearly evident that with the increasing convergence of telecommunications technology and financial services, banking is no longer a preserve of the affluent. It has always been our objective to demystify banking, promote financial deepening and improving access to financial services across Sub-Saharan Africa and we believe the issuing of prepaid cards is one such cheap and convenient way of achieving this".

Businesses can also stand to benefit from the introduction of the prepaid card, as the payment solution can be used for making payments to full time employees or to non-salaried workers, who hold informal employment and do not have banking accounts. Prepaid cards can also serve as an excellent replacement for existing corporate Travel Card programmes and entertainment expense schemes, which are cumbersome to monitor and are particularly vulnerable to fraud.  Government will also be able to securely distribute funds to social grant beneficiaries.

"The launch heralds an exciting time for the people of Botswana as the MADI Express Prepaid MasterCard card is specifically designed for their needs. The introduction of this innovation in the payments industry is aimed at assisting the government to position itself as a global economic power-house, one that is less dependent on cash," concluded Moran.

The MADI Express Prepaid MasterCard card is available to users online at http://www.madiexpress.co.bw . Alternatively customers can visit our customer service centres located at Postnet Railpark Mall (Tel: +267-310-2564) by the Gaborone bus rank or Postnet Molapo cross (Tel: +267-371-0020), Gaborone.

Notes to Editors

The MADI Express Prepaid MasterCard card

About Prepaid Financial Services:

Prepaid Financial Services (PFS) Ltd. is a leading prepaid program manager operating out of the UK, has live programmes in 10 currencies, and is recognised as a specialist supplier to the prepaid industry globally.  PFS are FSA regulated and manage programs processing millions of transactions every week. Our products are utilised by governments, blue chip corporations, SME's and individual consumers utilising our cutting edge, secure technology.

For more information, go to http://www.prepaidfinancialservices.com or call +44-(0)20-7125-0321.

About Prepaid Debit Card Services:

Prepaid Debit Card Services (PDS) Ltd. prides itself as an innovative prepaid cards services provider targeting underbanked and unbanked individuals with lower or erratic income levels through our flagship MADI Express MasterCard prepaid card. For more information, go to http://www.madiexpress.co.bw or call (+267)-310-2561.

About Kingdom Bank Africa Limited:

Kingdom Bank Africa Limited is a leading offshore banking institution operating under the International Financial Services Centre (IFSC) in Botswana and licensed by Bank of Botswana to provide off-shore banking, savings and investments services, as well as trade finance advisory and corporate finance/advisory. Main clients include high net worth individuals, companies involved in cross-border activities and Non-Governmental Organisations. For more information, go to http://www.kingdombotswana.com.

About MasterCard:

MasterCard(NYSE: MA), http://www.mastercard.com, is a global payments and technology company. It operates the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
"Digital transformation - what we knew about it in the past has been redefined. Automation is going to play such a huge role in that because the culture, the technology, and the business operations are being shifted now," stated Brian Boeggeman, VP of Alliances & Partnerships at Ayehu, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
SYS-CON Events announced today that Evatronix will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Evatronix SA offers comprehensive solutions in the design and implementation of electronic systems, in CAD / CAM deployment, and also is a designer and manufacturer of advanced 3D scanners for professional applications.
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...
DevOps at Cloud Expo – being held June 5-7, 2018, at the Javits Center in New York, NY – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Among the proven benefits,...
@DevOpsSummit at Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, is co-located with 22nd Cloud Expo | 1st DXWorld Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait...
Cloud Expo | DXWorld Expo have announced the conference tracks for Cloud Expo 2018. Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA. Digital Transformation (DX) is a major focus with the introduction of DX Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive ov...
SYS-CON Events announced today that T-Mobile exhibited at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on qua...
SYS-CON Events announced today that Cedexis will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Cedexis is the leader in data-driven enterprise global traffic management. Whether optimizing traffic through datacenters, clouds, CDNs, or any combination, Cedexis solutions drive quality and cost-effectiveness. For more information, please visit https://www.cedexis.com.