Compagnie Générale de Banque (Cogebanque), a Rwanda-based commercial bank, has launched a new prepaid MasterCard that has been designed to boost cashless economy.

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The new card can be used both in Rwanda and internationally at ATMs, online as well as point of sales.

The new card is part of the four new types of MasterCard, the bank has launched in the market to increase financial inclusion, cashless economy as well as boost savings culture.

The new card launches are part of the bank’s efforts to boost its clientele base and products range.

The prepaid card also allows the cardholders to load money from the agent and save it, pay another person through the card by loading on their card.

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The card has been designed to target people who are travelling out of the country, parents who send their children to school and business people who buy things electronically without going to the bank.

Two of the newly launched cards will be used for loan access by customers.