Nakumatt has a plan to take advantage of their loyalty card and replace it with a prepaid card for use at their POS. The card will still be a loyalty card. For the over 1 million members currently using loyalty cards, Nakumatt aims to convert these to cashless shoppers with the card. Users will be able to load cash for use at POS Terminals, cash withdrawals, online purchases at Nakumatt stores in East Africa and any other retailer accepting Mastercard payments globally.
This will sure eat up to what is currently NationHela’s and other debit/credit cards helm and introduce competition. The loyalty program that was once limited to Nakumatt purchases will be spread out to any store where Mastercard is accepted, but redemption of points will only be at Nakumatt stores.
Banking partners for this card are Diamond Trust Bank (DTB) and Kenya Commercial Bank (KCB). The Nakumatt Global MasterCard Prepaid card features PayPass technology, which is ideal for quick payment environments where speed and convenience matter most. PayPass is supported by multi-level security protections, including the advanced encryption of PayPass radio frequency transaction transmissions, and the state-of-the art security protections of the MasterCard payment system.
The Nakumatt Global MasterCard Prepaid card will initially be launched to customers in Kenya and from 2013 Uganda, Tanzania, Rwanda, Burundi and South Sudan will also get the card.