Equity Bank has launched a MasterCard branded prepaid card for Maseno University students. The campus prepaid card will help students to receive their HELB loans, reduce the risks involved in handling cash by embracing e-payment.
“We have partnered with universities to provide a prepaid campus card that is secure, reliable and convenient to use on any university’s e-payment platform. Students will minimise the risk of handling hard cash, easily track their expenses and fulfill a greater need for budgeting and financial planning,” said Priscilla Owuor, Equity Bank’s Senior Manager, Payments, during the launch at Maseno University Kisumu city Campus.
The Deputy Vice-Chancellor for Student Affairs & Academics at Maseno University, Prof Mary Kipsat said the smart card will go a long way in making operations of the university more efficient. “Our students will be able to pay fees, access goods and services at supermarkets, Equity agent outlets and ATMs worldwide. In this way students will avoid the risk associated with carrying cash in their pockets, wallets and bags,” said Prof Kipsat.
The Bank has leveraged on technology to offer improved cash management services, payment security, and increased accountability aimed at improving efficiency and reducing operational risks in higher learning institutions.
Students Organization of Maseno University (SOMU) President Bonface Oduory hailed the Campus Card as a noble idea. “As the nation and the world goes digital, we as students need to embrace this technology so that with this one card you get a student identity card, pay for your tuition, pay for day-to-day purchases, access the library and stay updated through your mobile phone” he said.
Equity Bank has also signed up other universities and institutions of higher learning with the digital multiple-wallet cards platform. In addition, students will have access to cash through multiple channels including ATMs, branches, Equity Agents, Mobile money and online through EFT transfers.
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