South Africa-based mobile money transfer platform Globa is on final stages of developing new prepaid money vouchers and prepaid debit cards to be launched later this month in Ghana.
Speaking to HumanIPO, Johan Meyer said Globa will first launch the prepaid money vouchers and prepaid debit cards in Ghana, and later in Kenya, Cameroon and South Africa.
“The prepaid debit card is like a normal debit card you get at the bank. You can load money onto the card, use it any shop or ATM. And it can be re-used,” he added.
The prepaid debit card is linked to the holder’s Globa account for use at any shop or Ecobank ATM. At the moment, the firm says they have signed a partnership with Ecobank and a number of stores including companies like Millennium Development Project with over 1 million cards.
According to Globa, the cards will ease users of long hours of queues at ATM’s and banking halls. The prepaid debit card will be used at EcoBank ATM and most merchandise stores in Ghana.
“The prepaid money is a voucher or scratch card you can buy. It works on the same principle as when you buy prepaid airtime. For example you buy a 100 voucher, you scratch it, and you use either SMS or WAP to load the 100 into your Globa account. Once the voucher is used it can’t be used again,” Meyer said.
A number of firms using the product include Metro Mass Transit with over 700 POS Systems and 1000 000 cards being processed. Globa is to provide POS, cards or vouchers or any suitable electronic system to enable passengers board Metro Mass Transit Buses without the payment of cash on the buses like the POS device or electronic system used in Kigali, Rwanda and Kenya’s Bebabeba.
Meyer said the firm seeks to help the unbanked population in Africa in less expensive and convenient ways.
Globa’s other client Musiga will be issuing 21,000 for its members. Musiga members will use the cards not only as their ID cards but also to pay their dues electronically.
According to Meyer, the cards are developed on the Paymenex framework and user security is guaranteed. Paymenex cards use SMS and “3W Sentry card security” and can be monitored, blocked and all transactions controlled via WAP, the Globa website and SMS.
This is not the first time Globa is entering into the card business. Its Globa Premium Card is an international premium card offered to individuals with high-income rates with unique and complex lifestyles. Cardholders can make purchases on the internet and pay with their Premium Cards. Premium cardholders are entitled to discounts up to 20 percent at some selected merchant shops and hotels worldwide and a 24-hour customer service helpline.
The firm also offers Globa student card, Globa Play and Globa Money transfer and Globa Gift.
Globa’s payment technology connects customers, musicians, businesses and banks to use digital currency instead of cash or cheques. It also allows individuals and companies to transfer money, sell or make purchases, receive payments, settle bills and process transactions through the mobile phone, electronic cards and point of Sale device.
Globa promises users the benefits of easy money transfer, flexible payment via mobile phone, and secure management of their money when on the go.
Mobile Money in Africa has been on the rise, in 2015, over US$ 200b will have been transferred making approximately 18 percent of the continent’s GDP says the World Bank.