- Friday, 13 July 2012 16:43
- Published Date
- Lorato Khobetsi
- Hits: 1242
The Nam-mic Payment Solutions Cellcard which was launched in April was well received but the biggest challenge of getting Union members to sign up still remains because of work commitments.
750 Union members have signed up for Nam-mic Payment Solutions Cellcards which also serve as Union membership cards in Khomas Region.
According to Abri Krige, Operations Executive of Nam-mic Payment Solutions, this remains the biggest challenge because many members work during the week and on Saturdays which makes it difficult for members to sign up and get issued with their membership cards.
“We try during the week where possible to enrol at willing employers who afford their staff the time to get their cards, or alternatively we are available during the week at Nam-mic House or on Saturdays at NUNW offices in Katutura to enrol all Union Members,” he said in an interview with The Economist this week.
He said that Union members need to be educated on the tangible financial benefits of the Nam-mic CellCard. Adding that those who have received their cash cards are excited to receive cash back end of every month on purchases made.
“In this regard we try and equip the enrolled union members with as much information as possible to get more value from their hard earned income when using the Nam-mic CellCard” he added.
Speaking on the the plans for the future he said that they will soon launch the Cell phone channel as well as for the Nam-mic CellCard to be used on Bank Windhoek’s ATM and Payment Terminals, thereby adding more functionality and benefits to Union Members.
Krige stated that since starting with the enrolment process at this year’s May Day Celebration, they have been busy with presentations at employers, educating over 2000 members on the benefits of receiving their union membership cards.
“Being a platform partner of the Financial Literacy Initiative, we believe that the Nam-mic CellCard product enhances Financial inclusivity in the country by offering a cost affordable payment instrument that gives more value back to the user through lower transactional fees and cash backs on purchases,” he said.
He further said there is excitement especially within the previously marginalised un-banked and under banked employment sectors like domestics, farm workers and security guards to have access to the formal financial sector through their Union Membership Cards that allows them to pay for products and services and have access to financial products that build wealth for them, thereby breaking the cycle of systemic poverty that ravages many of the workers.
Nam-mic CellCard enables members to have access to financial services and cost-effective banking. Bank of Namibia granted Nam-mic Payment Solutions (Pty) Ltd authority to issue out Nam-mic CellCards, as a payment instrument under the Determination on Issuing of Electronic Money in Namibia in terms of section 4 of the Payment System Management Act No. 18 of 2003 in March this year.
- Articles In This Category
- Meatco introduces dual price system (738 hits)MarketsMeatco has announced the introduction of a new dual price system for purchasing cattle beginning 15 October 2012. According to the new system, cattle...MarketsAs expected, the number of building plans approved by the City of Windhoek, excluding walls and pools, declined in December to 122 from 212 in...Anonymous Tip-off service up and running (398 hits)MarketsAccording to the Association of Certfied Fraud Examiners (ACFE) organisations lose an estimated 5% of their revenue to fraud each year. Deloitte and...FNB rakes in N$350m from banking fees (466 hits)MarketsFNB has reported an 18% growth in banking fees and commission income to N$350 million in the six months ended 31 December 2012. In total,...Scammers exploits peak during festive season (236 hits)MarketsAs the holiday season approaches, Bank Windhoek this week issued another warning to their clients and the general public to be vigilant and prevent...MarketsFNB Area Manager for the Coast Tienie Mouton, said this week that the planning for the new FNB branch in Kuisebmund is on track adding that the...ATA in Namibia (1034 hits)MarketsOccupational health and safety training specialist, ATA International Training, Namibia officially launched its new range of training courses...Competition promotes financial literacy (1081 hits)MarketsNamibia Breweries and the Namibia Stock Exchange has announced that the Scholars Investment Challenge which was launched on 1 March, has a total of...MarketsDundee Precious Metals Inc.(DPM), owners of Namibia Custom Smelters, has entered into a long-term revolving credit facility of US$150 million with...Inflation within limits (208 hits)MarketsThe monthly inflation rate for February 2014 stood at 0.7 %, an increase of 0.3 % when compared to the same period in 2013. On a monthly basis,...
- Related Articles
- ColumnsIt seems that my series on online shopping has hit a nerve, so lets delve right in and discuss more about this. Here is www.privacyrights.org take on...HeadlinesNam-mic Payment Solutions recently introduced an electronic payment system called NISO. The payment system is aimed at servicing over 6000 informal...
- Latest Articles
- Take no nonsense from criminals (257 hits)HeadlinesThe Governor of the Hardap Region, Hon. Katrina Hanse-Himarwa introduces Commander Jacobus Meyer, the Hardap Regional Commander of NAMPOL to H.E....120 MW for Arandis, again (266 hits)HeadlinesArandis Power (Pty) Ltd is surging foward with plans to construct a 120 Megawatt (MW) thermal power generation Plant and one for waste oil recycling....HeadlinesThe development of a 250MW long-term generation facility at the coast in the Erongo Region to alleviate the country’s power woes will not be...Editors DeskStocks, bonds and currencies are jumping on and off the charts in such volatile trading that it mirrors conditions during the final quarter of 2008....Esau explains stance on phosphate moratorium (247 hits)HeadlinesDeputy Minister of Fisheries and Marine Resources, Hon. Samual Ankama recently developed a speech on behalf of Hon. Bernard Esau explaining the...