International Bank for Africa in Congo launches first prepaid credit card

By

Byobe Malenga

The International Bank for Africa in Congo (BIAC) in conjunction with MasterCard last week launched the first prepaid credit card from Heyano, aimed at BIAC’s existing customers and those who currently do not have a bank account or access to financial services.

According to estimates from the Central Bank of the DRC last year, just six percent of the country’s citizens currently use a bank or other form of financial services. The launch of the Heyano Prepaid card is therefore a significant step in extending financial independence to citizens who currently do not have access to such services.

Heyano Prepaid cards are versatile, convenient and are accepted at millions of retail locations and ATMs worldwide, wherever MasterCard products are accepted. They are an ideal payment alternative to cash as they offer an easy, convenient and safe way to pay goods and services. They have globally recognized security features such as an EMV-chip on the card to assure cardholders of quick and secure access to their money whenever they need it.

Heyano Prepaid cards function just like an electronic wallet, eliminating dependence on cash. Cardholders will be able to withdraw cash from ATMs displaying the MasterCard logo, pay for goods at till points in shops, transfer money from one card to another and make international money transfers.

Cardholders are able to safely reload money onto their Heyano Prepaid card when funds are depleted. The card can furthermore be used to make bill payments and to top-up prepaid mobile phone accounts.

“The launch of this new product enables BIAC to expand access to financial services and banking solutions to citizens throughout the country. Thanks to the safety and affordability of Heyano, BIAC now offers a simple, fast and flexible payment method which will contribute to our population’s transition from the informal to the formal economy,” says Michel Losembe, CEO of BIAC.

To meet the needs of BIAC’s extensive customer base including employees, executives, students and pensioners, the Heyano Prepaid card can be used for a number of purposes. For example, it can be used by employers and employees as a “wage” card where wages are preloaded onto the card. This offers cardholders more security when transacting in the country and abroad.

It can also be used as a student card as funds can be preloaded by the student’s family at any time during the year, financially empowering them to manage their finances throughout their studies. Pensions can be securely loaded onto the Heyano Prepaid card, which means pensioners won’t be vulnerable when they collect their money each month, and they don’t need to worry about carrying cash to and from the shops.

“MasterCard continuously works with governments and financial institutions across Africa to drive financial inclusion through the adoption of electronic payments,” says Charlton Goredema, Vice President and Area Business Head, Southern Africa and Indian Ocean Islands, MasterCard. “We are proud to have partnered with BIAC to launch the Heyano Prepaid card in the DRC. The new prepaid card enables BIAC customers to make purchases at any retailer that accepts MasterCard payment cards while enjoying the security, safety and convenience of cashless payments.”

“With its extensive network of branches throughout the country and its team of developers, system analysts and strong compliance experts with many years of experience in prepaid solutions, BIAC has the knowledge of the local market and the expertise to launch this program across the country in the best conditions of transparency and security,” concludes Michel Losembe.

Byobe Malenga

I have worked with the media (written and spoken press) for several years in various fields such as production of commercials, jingles, magazines, newspapers and other emissions. I have capitalized on the valuable experience of working with foreign radio in areas of partnership, social mobilization around water points, the setting-up of committees, etc.

I am currently working with the BBC World Service as a freelancer in Swahili, for Radio, TV and online. In addition to this I am also the officer manager and multimedia journalist at Radio Ngoma ya Amani RNA-FIZI www.rnafizi.net, as well as Editor of the newspaper ‘Journal Des Rapatries’.

I have already participated in several reporting missions on behalf of several radio stations such as Radio Television Groupe d’Avenir- Kinshasa as well as numerous training missions, animation workshops and support as the strategic planning and operational. I have already made several trips to Africa taking in Burundi, Tanzania, Rwanda, Uganda, Kenya, Malawi, Zimbabwe, South Sudan, Lesotho, Namibia, Mozambique, the Republic of central Africa and the Congo Brazza.