Welcome!

Microsoft Cloud Authors: Pat Romanski, Elizabeth White, Liz McMillan, Mihai Corbuleac, David Bermingham

News Feed Item

Prepaid Financial Services Launch MADI Express Prepaid MasterCard Card in Botswana

LONDON, November 12, 2012 /PRNewswire/ --

- Ground breaking industry collaboration to introduce a more financially inclusive payment solution

Prepaid Financial Services (PFS) has announced the launch of the MADI Express Prepaid MasterCard card in Botswana, in a move that introduces more innovative and financially inclusive payment solutions to the country.  The prepaid card is a collaboration between PFS, Prepaid Debit Card Services (PDS), Kingdom Bank Africa Limited and MasterCard Worldwide, and will introduce more convenient, quicker and safer ways to transact to Botswana's citizens.

The MADI Express Prepaid MasterCard card is available in Botswana's local currency, the Pula (BWP), and represents the first MasterCard Prepaid card to be launched and issued in Botswana. This introduction of a prepaid payment solution will assist stakeholders develop a more financially inclusive and modernised economy, by empowering consumers, businesses, retailers and the government to operate more efficiently with less dependence on cash.

The MADI Express Prepaid MasterCard allows cardholders to load funds with ease using their debit or credit cards, a bank transfer, or by loading cash directly at registered locations, for those customers without bank accounts.  Purchases such as mobile airtime, groceries, tickets for events and travel can be made, and the prepaid card will also enable cardholders to pre-load funds to use the card as an electronic savings wallet, helping cardholders save funds for larger purchases.

Noel Moran, CEO of PFS stated: "The MADI Express Prepaid MasterCard card launch is another example of the growing adoption of prepaid cards in developing countries across the globe. PFS is uniquely positioned to provide full end-to-end prepaid solutions to clients and their customers throughout Africa, in collaboration with our partners.  This launch represents the first of many programmes that PFS will roll out in the region, and we are delighted to be leading these prepaid developments across the African continent."

"The prepaid card removes the need to carry cash, and will give users access to electronic payments via ATM's and point of sale (POS) terminals across Botswana, and at 33 million MasterCard acceptance locations around the world," commented Charlton Goredema, market manager, Southern Africa, MasterCard Worldwide. "The MADI Express Prepaid MasterCard card is expected to appeal to consumers who are conscious about budgeting and money management, as well as those who are risk averse and looking to reduce their exposure to fraud.  A formal bank account is not required to apply for the card, which means that the safety and convenience offered by this innovative product can be accessed by all of Botswana's citizens."

"With features such as SMS account management, real time card blocking by SMS, and the ability to have linked primary and secondary cards, the MADI Express Prepaid MasterCard card allows cardholders to share money with other cardholders.  Parents can now provide their children with access to funds while exercising a degree of financial control, helping to educate these young adults to budget and manage their money without the risk of getting themselves into debt," Moran added.

In the near future users will also be able to make bill payments for utilities such as water, electricity, gas, cable TV, mobile phones and broadband, by using their MADI Express Prepaid MasterCard card and further enhancements are already underway to allow users to purchase their card and load it with cash at various stores and retail outlets across Botswana.

Favor Kelapile Marebole, Group Managing Director at Prepaid Debit Card Services, was delighted with the launch and commented: "The launch of the MADI Express Prepaid MasterCard card in Botswana, in partnership with reputable global payments service providers like PFS and MasterCard, is a key milestone in our efforts to address challenges faced by the country's under-banked and unbanked communities."

"These challenges are mostly felt by the poor and middle income communities in rural areas - almost 36% of the total Botswana population.  We are excited about the positive implications that this payment solution will have for these citizens, a sentiment echoed by all stakeholders including public sector organisations, NGOs and the private sector," Marebole noted.

Peter Mukunga, Acting Managing Director at Kingdom Bank Africa Limited commented "We are delighted to partner with Prepaid Financial Services and MasterCard in bringing the MADI Express Prepaid Card product to Botswana. It is clearly evident that with the increasing convergence of telecommunications technology and financial services, banking is no longer a preserve of the affluent. It has always been our objective to demystify banking, promote financial deepening and improving access to financial services across Sub-Saharan Africa and we believe the issuing of prepaid cards is one such cheap and convenient way of achieving this".

Businesses can also stand to benefit from the introduction of the prepaid card, as the payment solution can be used for making payments to full time employees or to non-salaried workers, who hold informal employment and do not have banking accounts. Prepaid cards can also serve as an excellent replacement for existing corporate Travel Card programmes and entertainment expense schemes, which are cumbersome to monitor and are particularly vulnerable to fraud.  Government will also be able to securely distribute funds to social grant beneficiaries.

"The launch heralds an exciting time for the people of Botswana as the MADI Express Prepaid MasterCard card is specifically designed for their needs. The introduction of this innovation in the payments industry is aimed at assisting the government to position itself as a global economic power-house, one that is less dependent on cash," concluded Moran.

The MADI Express Prepaid MasterCard card is available to users online at http://www.madiexpress.co.bw . Alternatively customers can visit our customer service centres located at Postnet Railpark Mall (Tel: +267-310-2564) by the Gaborone bus rank or Postnet Molapo cross (Tel: +267-371-0020), Gaborone.

Notes to Editors

The MADI Express Prepaid MasterCard card

About Prepaid Financial Services:

Prepaid Financial Services (PFS) Ltd. is a leading prepaid program manager operating out of the UK, has live programmes in 10 currencies, and is recognised as a specialist supplier to the prepaid industry globally.  PFS are FSA regulated and manage programs processing millions of transactions every week. Our products are utilised by governments, blue chip corporations, SME's and individual consumers utilising our cutting edge, secure technology.

For more information, go to http://www.prepaidfinancialservices.com or call +44-(0)20-7125-0321.

About Prepaid Debit Card Services:

Prepaid Debit Card Services (PDS) Ltd. prides itself as an innovative prepaid cards services provider targeting underbanked and unbanked individuals with lower or erratic income levels through our flagship MADI Express MasterCard prepaid card. For more information, go to http://www.madiexpress.co.bw or call (+267)-310-2561.

About Kingdom Bank Africa Limited:

Kingdom Bank Africa Limited is a leading offshore banking institution operating under the International Financial Services Centre (IFSC) in Botswana and licensed by Bank of Botswana to provide off-shore banking, savings and investments services, as well as trade finance advisory and corporate finance/advisory. Main clients include high net worth individuals, companies involved in cross-border activities and Non-Governmental Organisations. For more information, go to http://www.kingdombotswana.com.

About MasterCard:

MasterCard(NYSE: MA), http://www.mastercard.com, is a global payments and technology company. It operates the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.

SOURCE Prepaid Financial Services

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
When people aren’t talking about VMs and containers, they’re talking about serverless architecture. Serverless is about no maintenance. It means you are not worried about low-level infrastructural and operational details. An event-driven serverless platform is a great use case for IoT. In his session at @ThingsExpo, Animesh Singh, an STSM and Lead for IBM Cloud Platform and Infrastructure, will detail how to build a distributed serverless, polyglot, microservices framework using open source tec...
Apixio Inc. has raised $19.3 million in Series D venture capital funding led by SSM Partners with participation from First Analysis, Bain Capital Ventures and Apixio’s largest angel investor. Apixio will dedicate the proceeds toward advancing and scaling products powered by its cognitive computing platform, further enabling insights for optimal patient care. The Series D funding comes as Apixio experiences strong momentum and increasing demand for its HCC Profiler solution, which mines unstruc...
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change t...
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Presidio has received the 2015 EMC Partner Services Quality Award from EMC Corporation for achieving outstanding service excellence and customer satisfaction as measured by the EMC Partner Services Quality (PSQ) program. Presidio was also honored as the 2015 EMC Americas Marketing Excellence Partner of the Year and 2015 Mid-Market East Partner of the Year. The EMC PSQ program is a project-specific survey program designed for partners with Service Partner designations to solicit customer feedbac...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...