Kenyan retail chain Nakumatt has launched its new Global MasterCard prepaid card to enhance paperless transactions in the country and allow customers to preload their cards before making purchases.
Launched in partnership with MasterCard, Kenya Commercial Bank and Diamond Trust Bank, the new EMV compliant card replaces the existing Nakumatt Cybercash loyalty smartcard.
Go deeper with GlobalData
Powered by Diamond Trust Bank (DTB) and Kenya Commercial Bank (KCB), the new card features MasterCard contactless technology to offer consumers a ‘tap and go’ option, while the EMV technology stops card skimming.
The card also has multi-currency capability which allows consumers to upload the prepaid card with any of eight currencies, namely: Kenya Shilling (KES), US Dollar, Euro, British Pound, Indian Rupee (INR), South African Rand (ZAR) and the Australian Dollar (AUD).
Nakumatt Holdings managing director Atul Shah said that plans are now underway to revamp the firm’s wide range of financial products and services.
The ongoing revamping project is part of a wider strategy to provide convenient retail financial solutions such as utility bill settlements, insurance products, cash back, FOREX trade and money transfer services at Nakumatt tills as customers pay for their shopping in the regular and 24-hour branches, according to Shah.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe complany also has plans to introduce the new card in Tanzania, Uganda and Rwanda.
