Thursday, Oct 23rd

Last updateFri, 17 Oct 2014 9am

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
Markets
FNB’s new eWallet service which assists all unbanked citizens to have access to banking facilities even without a bank account or bank card...
Markets
The Governor was recently caught between a rock and a hard place as enquiring minds of the media questioned the declined revenue of Bank of Namibia....
Markets
Forsys Metals, a Canadian based uranium exploration company, announced recently that it will consolidate its two projects in Namibia, a move which...
Markets
The Bank of Namibia this week warned the public against counterfeit N$100 banknotes in circulation. The N$100 counterfeited banknotes in circulation...
Markets
As expected, the number of building plans approved by  the City of Windhoek, excluding walls and pools, declined in December to 122 from 212 in...
Markets
The Satellite Tourism Accounts illustrate the importance of tourism to GDP growth over time and employment. The direct impact of the industry on GDP...
Markets
According to Namene Kalili, Manager Research at FNB Namibia, the FNB House Price Index has regained some lost ground through May as the index...
Markets
Local manufacturers recorded their highest year-to-date production volumes in the fourth quarter of 2011, according to a Namibia Manufacturers...
Markets
Old Mutual this week announced a total dividend payout totalling N$69 million to Namibian shareholders including policyholders, BEE partners and Old...
Markets
Several leading local manufacturers were rewarded for their excellence last week at the first Manufacturer of the Year Awards. Ohorongo Cement from...
Related Articles
Columns
It 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...
Headlines
Nam-mic Payment Solutions recently introduced an electronic payment system called NISO. The payment system is aimed at servicing over 6000 informal...
Latest Articles
Headlines
The winner of the Best Business Idea competition run by the Economist Businesswomen Club after their Businesswomen Conference in Ongwediva, was...
Headlines
The most discredited agricultural commodity, ostriches, are back on the farming radar after the Ministry of Trade and Industry, in collaboration with...
Editors Desk
Can one imagine how unmanageable the Namibian capital market would be if yields on government bonds came down by 11% on one day, only to jump up more...
17 October 2014 (37 hits)
Weather
What Happened? The layered atmospheric sandwich that started developing last week continued up to Wednesday this week at which point the last...
Headlines
The City of Windhoek commemorated World Food Day yesterday at Otjomuise. This is the first ever commemoration of the World Food Day in Windhoek and...