Post Bank launches prepaid card for the elderly programme
PostBank Uganda has partnered with World Food Programme (WFP) to unveil a prepaid card payment solution that targets the social protection and safety net programme beneficiaries who are the elderly.
The card was launched at Kiryandongo settlement camp over the weekend.
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Launching the card, Stephen Mukweli; managing director PostBank Uganda, said that the beneficiaries are not required to have a PIN number to access the card therefore funds on the card are highly secured and free from losses that could arise following or during Personal Identification Number (PIN) compromises.
“We would like to assure the development partners that this is an efficient and transparent solution for cash transfers. Mukweli added.
Musa Ecweru, the minister of state for Disaster Preparedness, who was chief guest said, “this innovation is timely and will help eliminate prospective ghost beneficiary infiltration into the programme.
The bank hopes that the prepaid card will eliminate prospective ghost beneficiary infiltration into the programme and the system will decline all duplicate allocations in the beneficiary entitlement file, flagging them as exceptions for which program office re-assessment is required.
How it works
For a first time beneficiary, the bank captures beneficiary’s details, enrols a beneficiary on the prepaid card system, issues the card, tops up beneficiary entitlements, loads the card with cash and then pays the customer. For the next payment cycle, the bank receives a file from the donor, loads the card with cash and then makes the payment.
The customer can choose to save his money without withdrawing depending on his/her needs.
