Namibia: Nampost Joins Visa Network

Aug 23, 2019 | Namibian; All Africa

State-owned savings bank and mail delivery company NamPost has launched new Visa smart cards which will allow low-income clients to transfer, receive and transact easily.

This was revealed by NamPost's manager of corporate communications, Wilson Shikoto, in a press release issued yesterday.

He said the cards are a solution to the closed-loop cards issued in the past that were only usable at post offices, or at shops with NamPost point of sale machines.

"The launch is done in pursuance of the corporate strategy of NamPost to broaden the financial services offerings of NamPost Savings Bank, in particular to the unbanked and underbanked segment of our population," Shikoto added.

The new smart card will be used to withdraw funds at all automated teller machines (ATMs) across the country, as well as make payments through any point-of-sale machines in shops.

NamPost has issued three types of smart cards, namely the transactional smart card, the power of attorney smart card, and the business smart card.

The transactional smart card is a replacement for the existing card, which is meant for normal transactions; the power of attorney smart card is given to a person who transacts on behalf of somebody else; while the business smart card allows business owners to save and transact on the account.

Evangelina Hamunyela, chairperson of the NamPost board, noted that the transactional smart card has an option for affordable funeral cover at a fee of N$10.

"If we reflect on the law that established NamPost, one of its mandates is the rendering of a money transfer service, which of course intertwines with payment. Therefore, improvements on the smart card are addressing the core function of NamPost, as envisioned in the law," communication technology minister Stanley Simataa said during the launch... Read more on All Africa

Source: All Africa