Welcome!

Agile Computing Authors: Leon Adato, Harry Trott, Automic Blog, Liz McMillan, Angsuman Dutta

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.

SOURCE Prepaid Financial Services

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
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
SYS-CON Events announced today that Secure Channels, a cybersecurity firm, 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. Secure Channels, Inc. offers several products and solutions to its many clients, helping them protect critical data from being compromised and access to computer networks from the unauthorized. The company develops comprehensive data encryption security strategie...
From 2013, NTT Communications has been providing cPaaS service, SkyWay. Its customer’s expectations for leveraging WebRTC technology are not only typical real-time communication use cases such as Web conference, remote education, but also IoT use cases such as remote camera monitoring, smart-glass, and robotic. Because of this, NTT Communications has numerous IoT business use-cases that its customers are developing on top of PaaS. WebRTC will lead IoT businesses to be more innovative and address...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
SYS-CON Events announced today that App2Cloud 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. App2Cloud is an online Platform, specializing in migrating legacy applications to any Cloud Providers (AWS, Azure, Google Cloud).
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, shared examples from a wide range of industries – including en...
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. Jack Norris reviews best practices to show how companies develop, deploy, and dynamically update these applications and how this data-first...
Intelligent Automation is now one of the key business imperatives for CIOs and CISOs impacting all areas of business today. In his session at 21st Cloud Expo, Brian Boeggeman, VP Alliances & Partnerships at Ayehu, will talk about how business value is created and delivered through intelligent automation to today’s enterprises. The open ecosystem platform approach toward Intelligent Automation that Ayehu delivers to the market is core to enabling the creation of the self-driving enterprise.
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Consumers increasingly expect their electronic "things" to be connected to smart phones, tablets and the Internet. When that thing happens to be a medical device, the risks and benefits of connectivity must be carefully weighed. Once the decision is made that connecting the device is beneficial, medical device manufacturers must design their products to maintain patient safety and prevent compromised personal health information in the face of cybersecurity threats. In his session at @ThingsExpo...
SYS-CON Events announced today that Grape Up 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. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
SYS-CON Events announced today that Massive Networks 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. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
Because IoT devices are deployed in mission-critical environments more than ever before, it’s increasingly imperative they be truly smart. IoT sensors simply stockpiling data isn’t useful. IoT must be artificially and naturally intelligent in order to provide more value In his session at @ThingsExpo, John Crupi, Vice President and Engineering System Architect at Greenwave Systems, will discuss how IoT artificial intelligence (AI) can be carried out via edge analytics and machine learning techn...
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
In the enterprise today, connected IoT devices are everywhere – both inside and outside corporate environments. The need to identify, manage, control and secure a quickly growing web of connections and outside devices is making the already challenging task of security even more important, and onerous. In his session at @ThingsExpo, Rich Boyer, CISO and Chief Architect for Security at NTT i3, discussed new ways of thinking and the approaches needed to address the emerging challenges of security i...
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of 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. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business - from apparel to energy - is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...