Financial services

BK Arena prepaid card gives unbanked youth access to financial services | The new times

Bank of Kigali has unveiled a new flagship product, called BK Arena Prepaid Card, which would allow anyone, including unbanked youth, to have a visa card for digital payments without owning a bank account.

The BK Arena prepaid card is part of the Bank’s grand strategy to aggressively reach young people. Anyone with the card can easily load money into a prepaid wallet and can be used like any other bank card.

To facilitate the acquisition of the BK Arena card, BK accounts will not be a prerequisite for owning a card. The new card comes hot on the heels of BK Group entering into a partnership with QA Venue Solutions which saw the iconic Kigali Arena change its name to BK Arena.

In fact, cardholders will enjoy special perks at BK Arena, including discounts on tickets, food, and beverages inside BK Arena. They will also participate in sweepstakes and benefit from periodic promotions.

The new BK Arena card can be acquired instantly at any BK branch and at BK Arena as long as one has a valid national ID card or passport and is an adult. The card is valid for 3 years.

It costs 5000 Frw and will be charged in Rwandan Francs, however, the cardholder can make payments in any currency, both domestically and internationally.

When acquiring the card, one can load money into it using several options, including internet banking, BK branches, MTN wallet. Loading money on the card is free

The Bank of Kigali is also planning to soon allow money to be loaded onto BK Arena cards using BK Agents, BKApp (Mobile Banking) as well as USSD/mobiserve.

The card comes with a number of features that make it friends for all holders. Among these features is a simple KYC (Know Your Customer) using your national ID card or passport. KYC is a process of identifying and verifying the identity of the customer when opening an account and periodically over time.

Cardholders will be able to make payments at point of sale and online and no transfer fees will be imposed on payments.

In addition, the cardholder can freely select and modify his PIN code as well as use the card on Tap&Go POS and other devices that accept card payments.

A cardholder can also access instant free SMS and email notification for each transaction. With the BK Arena prepaid card, you get better management of your funds and control of expenses. The card is accepted globally at ATMs, POS and online, while in Rwanda it can be used for payments at over 3,000 POS merchants and over 200 ATMs tickets.

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