Launch of Prepaid in GIM-UEMOA
Electronic Money Inter-bank Group of UEMOA (GIM-UEMOA) has launched its prepaid card called "GIM Prepaid" in all eight countries of the West African Economic and Monetary Union (UEMOA).Electronic Money Inter-bank Group of UEMOA (GIM-UEMOA) has launched its prepaid card called "GIM Prepaid" in all eight countries of the West African Economic and Monetary Union (UEMOA).
"This card enables the user to do top-up, transfers from card to card, withdrawals, cash advance, purchases and
payments through a network of 106 partner banks and 3,000 points of acceptance," said GIM-UEMOA's Director of Development Fama Ndiaye, quoted by Togo Portail.
The purpose of this card is to improve access to banking services for 100 million people in the UEMOA area.
According to GIM-UEMOA's president Blaise Ahouantchede, the GIM-Prepaid fills a need in the UEMOA area, as the rate of access to banking services only stands at seven percent and the bank card equipment rate at two percent, reports Les Afriques newspaper.
The GIM-UEMOA is an interbank electronic payment system with a technical and operational infrastructure built to international standards, which helps cover withdrawal and credit card payment needs both in the UEMOA zone and internationally.
This economic integration tool works through a platform that allows financial institutions to interconnect and cardholders to make payments and withdrawals at ATMs.