MasterCard has joined forces with Banque Internationale pour l’Afrique au Congo (BIAC) to launch a new Heyano MasterCard Prepaid card in the Democratic Republic of Congo (DRC).
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The new prepaid card has been designed to target BIAC’s existing customers and those citizens who currently do not have a bank account or access to financial services.
The cards, which provide an easy and safe way to pay goods and services, will be accepted at millions of retail locations and ATMs worldwide, wherever MasterCard products are accepted.
The new prepaid card offers security features such as an EMV-chip on the card to provide cardholders quick and secure access to their money. It will work as an electronic wallet, eliminating dependence on cash.
The launch marks as a significant step in expanding financial inclusion to those citizens who do not have access to financial services.
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By GlobalDataAccording to data from the Central Bank of the DRC, only 6% of the country’s 75 million citizens currently use a bank or other financial services.
Using Heyano Prepaid cards, cardholders can withdraw cash from ATMs displaying the MasterCard logo, pay for goods at till points in shops, transfer money from one card to another, make international money transfers as well as bill payments and top-up prepaid mobile phone accounts.
The card will allow users to safely reload money onto their card when funds are short. It can be used as student card as funds can be preloaded by the student’s family at any time during the year and also pensions can be securely loaded onto the card.
BIAC CEO Michel Losembe said: "The launch of this new product enables BIAC to expand access to financial services and banking solutions to citizens throughout the country."
MasterCard Vice president and area business head, Southern Africa and Indian Ocean Islands Charlton Goredema said: "The new prepaid card enables BIAC customers to make purchases at any retailer that accepts MasterCard payment cards while enjoying the security, safety and convenience of cashless payments."
