Kenya’s Equity Bank has launched a prepaid card in conjunction with MasterCard to enable cashless payment of bus fare in Kenya.
The product, an all-purpose card, will be issued instantly and for free to Equity Bank and non-Equity Bank customers and will support acceptance for transactions and payments globally.
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The new prepaid card, that features the MasterCard contactless technology, will enable customers to pay for shopping or pay bills in all retail outlets accepting Equity Cards and MasterCard apart from withdrawing cash at Equity ATMs in all the five countries where Equity Bank operates, and all ATMs worldwide that accept MasterCard.
The cardholders will be able to load the card with convenient cash amounts at the Equity branches or agent, Equitel, Equity ATMs, and other mobile money channels such as Airtel and Mpesa.
Equity Bank CEO James Mwangi said: "The Launch of an Equity Bank Prepaid Card in conjunction with MasterCard further confirms our commitment to deepen the local cashlite economy as part the Equity 3.0 strategy."
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By GlobalData
