Efforts to transform Rwanda into a cashless economy have got a timely boost following the launch of a debit card campaign by BPR, an Atlas Mara Group subsidiary in Rwanda, and RSwitch Rwanda, the country’s payment switch, on Thursday. The development is tipped to increase debit card usage by the bank’s customers.
Efforts to transform Rwanda into a cashless economy have got a timely boost following the launch of a debit card campaign by BPR, an Atlas Mara Group subsidiary in Rwanda, and RSwitch Rwanda, the country’s payment switch, on Thursday. The development is tipped to increase debit card usage by the bank’s customers.
Sanjeev Anand, the Managing Director of BPR, said the campaign has come to create awareness and educate the public on financial literacy to contribute to efforts geared at driving the country toward becoming a cashless economy.
"We want to support government’s agenda of digitising the economy which will also enhance competitiveness and efficiency in service delivery and making of payments,” Anand said.
BPR has a mission of becoming the best bank in Rwanda and want to achieve this by strengthening their digital presence in the country , the managing director said "we have extensively invested in digital banking and we want to be the best bank in Rwanda , we have the widest ATM network, we introduced mobile banking application and we have recently integrated with WASAC , EUCL, MTN and different universities in the country and we will continue to ensure our customers get quick and convenient services using our technology platforms.”
Sanjeev says BPR has the widest ATM network in the country.
According to Jean-Claude Gaga, the chief executive officer of RSwitch, digital solutions are critical to support Rwanda’s economic and financial ecosystem strategy that seeks to ensure universal use of e-payments in day-to-day transactions.
He added that debit cards are one of the most common forms of payment used in the world today, noting that they have made it easy, convenient and affordable for customers to carry out transactions.
Rswicth’s Jean-Claude Gaga commends Rwanda’s drive to push for a cash less economy.
He also added that carrying too much cash in the wallet poses high health risks, "if you sit on your wallet that has too much cash in it, you are most likely to suffer from sciatic nerve issues”
Prossie Kalisa, BPR’s marketing and communications head, said the Campaign will last for 3 months with different activities to create awareness and educate the public on debit card usage, where customers who willfrequently use their BPR smartcash cards to withdraw on ATMs and pay for their different goods and services on POS will stand chances of winning amazing prizes at the end of the campaign.
Prossie Kalisa, the Head of BPR’s marketing and communications believes customers can save much time using the card than queuing in banks.
She added that” our cards are accepted on all POS and ATMs in the country and part of this campaign is to educate our customers to use them in different Restaurants,hotels,fuel stations, in hospitals, pharmacies and etc, our customers are urged to use their cards and save time queuing in the banking halls.”
BPR is the biggest bank in the country in terms of branch network with over 194 branches and 105 automatic teller machines (ATMs) across the country. The bank last year launched a new mobile application that is envisaged to boost efficiency and revolutionalise the way the bank’s clientele is served. The solution is expected to provide an end-to-end service experience for the rapidly growing Smartphone users in Rwanda and Africa.
Government through National Bank of Rwanda (BNR) has been encouraging sector players to bring to the market innovative products that will help digitise the economy and increase financial inclusion, with BPR’s rebranding last year, this has been top of their agenda and the bank in partnership with RSwitch is committed to support the government by continuing to invest in digital banking and has pledged to introduce new and innovative products to the local market.
BPR and RSwitch pledges to continue supporting the government in driving a cashless economy.
There are over 685,385 debit or credit cardholders as of June 2016. The number of POS per capita increased from five to 25.5 per 100,000 inhabitants between 2011 and June 2016. The overall cashless transactions increased from 0.32 per cent in 2011 to 16.5 per cent in 2015, according to central bank figures.
BPR plans to grow these numbers in this campaign through sensitizing and educating the public on financial literacy and embracing a cashless economy.