Thursday, Nov 27th

Last updateThu, 27 Nov 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
Markets
The Chairman of Capricorn Investment Holdings Limited (CIH), Koos Brandt has announced the appointment of Mr Tega Shiimi ya Shiimi as non-executive...
Markets
Since the launch of Bank Windhoek’s SeniorSave product in 2006, thousands of Namibian senior citizens older than 55 are benefiting from this...
Markets
Stephan Haenisch has been appointed as regional executive of corporate banking (coastal) with effect from 1 January 2012 in Werner Thesen’s...
Markets
“Standard Bank Namibia customers have welcomed the newly introduced electronic channel. The convenience of being able to do banking on the go has...
Markets
Markets
First National Bank Holdings announced recently that their 50 delegates of the New Managers’ Development Programme (NMDP), Management Development...
Markets
The geographical unbundling of diversfied group, Nictus, will be finalised this Friday (21 September) with the listing of Nictus Holdings Limited on...
Markets
Protea Hotels, which operates under the United Africa Group, is set to cut its number of employees at its various branches despite a reported growth...
Markets
Since implementing its new 4G LTE technology in mid-May, MTC says it is impressed with the overwhelming migration of its high post-paid customers who...
Markets
Estate agents brought in N$496 million worth of business to Standard Bank between 1 October 2010 and 30 September 2011. The bank showed its gratitude...
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
Bongi, (left) second runner up in Sunday’s Idols SA finale and Proverb (middle) the Idols presenter, congratulating an elated Vincent B, this...
Headlines
The Ministry of Mines and Energy will accelerate the finalisation of its nuclear policy framework, a process that will lead to the final...
Headlines
Investors appear to be making hay while the sun shines at Bank Windhoek Holdings. This week, trade in the shares of Bank Windhoek has seen its market...
Editors Desk
A five-day sojourn to the wonderful winelands of the Western Cape is an invigorating trip. But as the author of “Undercover Economist” points out...
Weather
What Happened? The first signs that the high pressure control in the upper air over eastern Africa, is breaking up, start appearing on synoptic maps...