Monday, Dec 22nd

Last updateMon, 15 Dec 2014 11am

You are here: Home Markets Nam-mic Cellcards giving cash back

Nam-mic Cellcards giving cash back

Abri Krige, Operations Executive of Nam-mic Payment Solutions

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
Private sector credit extension surged to 11.7% in March from 10.2% the previous month buoyed by borrowing by both businesses and individuals....
Mobile telecommunications giant, MTC increased total revenue by 3.2% to N$ 1,454.7 million in the financial year ended 30 September 2011 despite a...
The financial services group Trustco has successfully listed its ZAR1 billion bond on the Johannesburg Stock Exchange (JSE), the group has announced....
South African realtor Pam Golding Properties is back in the Namibian market, this time with an ex-deputy minister as shareholder. The real estate...
More meat to EU (563 hits)
Meatco’s Value Addition Plant, which produces deboned game and lamb, is expected to start exporting products to the European Union and other high...
Initiatives such as the recently introduced Smartswitch card by Nampost aid in the easy access to finance to people in rural areas and those that are...
SACU our saviour (825 hits)
SACU transfers account for an estimated 40% of the current total tax revenue. This dependence has ushered much debate. Has the SACU revenue formula...
The Gecko Vision Industrial Park development is dependent on the growth of Namibia’s uranium industry. Phillip Ellis, managing director of Gecko...
A specialist fund management company, Business Partners International (BPI), launched a N$100 million Business Partners International Namibia SME...
Related Articles
It seems that my series on online shopping has hit a nerve, so lets delve right in and discuss more about this. Here is take on...
Nam-mic Payment Solutions recently introduced an electronic payment system called NISO. The payment system is aimed at servicing over 6000 informal...
Latest Articles
The Namibia Airports Company earlier this week said that the ageing Ondangwa airport runway will undergo rehabilitation.The runway will be extended...
The young warriors on Wednesday marched into the semifinals of the African Union Sports Commission (AUSC) Region 5 Youth Games Men’s Competition...
Three Countries took part in the sub-zonal Olympic Qualifier of the Continental Cup last weekend. Teams from Angola, Zimbabwe and Namibia played at...
Sponsorship towards the Namibian U19 Cricket Team got a timely boost when Old Mutual Namibia handed over cricket apparel to the value of N$20,000 to...
Chief Instructor of Shotokan Karate Academy, Sensei Willem Burger (6th Dan) and  Sensei Morchen Kruger, instructor of the Khomasdal Shotokan...