BPR aims to boost EPS penetration
A new card has been introduced by Banque Populaire du Rwanda (BPR) as part of its effort to encourage people to use alternatives to cash.A new card has been introduced by Banque Populaire du Rwanda (BPR) as part of its effort to encourage people to use alternatives to cash.
According to Herman Klaassen, chief executive of the bank, the penetration of electronic payment systems (EPS) is likely to grow in Rwanda in the future, the New Times reports.
This, he said, means both customers and businesses will "move from a cash-based system to a cashless system as seen in other parts of the world".
In order to encourage this transformation, a new Visa payment card is being rolled out, which will enable its clients and foreign nationals to obtain money from Automated Teller Machines.
Mr Klaassen said this means people from overseas will "no longer have to carry foreign currency" into Rwanda, as they can "simply use a card from their home market" instead.
BPR has already embraced options such as mobile banking, while the Rwandan government is actively taking steps to encourage the spread of EPS and alternatives to traditional notes and coins.