Farmers in the Rift Valley region can now receive payments for their produce as well as make payments for various farm inputs and services using a first-of-its kind debit card courtesy of ABC Bank and EMO Society. Emoconnect Mastercard is a bouquet of benefits; it is a prepaid bank account card, insurance card, membership card and loyalty card, all in one.
Besides the numerous benefits, the card addresses the challenge of carrying multiple cards, caters for local and Diaspora members, can be used for online transactions and is also EMV compliant, making it secure to use.
The society has over 17,000 members both in Kenya and the Diaspora, and had been working on identifying a suitable membership card for its members. Additionally, members have in the past lost their crops or livestock to natural occurrences without compensation because of lack of affordable insurance cover.
They and their families have also not had access to medical cover, thus incurring huge healthcare costs. However, with the new card solution, members now have a reprieve in form of highly discounted insurance products courtesy of Emo Partners Madison, AMACO and APA Insurances.
Members will access their funds through a wide range of outlets which include ABC Bank Branches and Agents, all Kenswitch ATMs and all Mastercard branded ATM’s worldwide. On the other hand they can top up their Emoconnect cards at all ABC Bank branches/agents, Emo Agency outlets or via Mpesa.
“ABC Bank is confident that this product is truly revolutionary and ushers in a new way of accessing financial services for Emo Society members, and will enable them fully exploit the benefits of the integrated services at affordable cost and user friendly system”, said ABC Bank Card Centre Manager, Dominic Muriithi, during the launch.
With this new product, Emo Society intends to reach out to other potential members to take up the Connect card and start enjoying the benefits that come with it. EMO encouraged members to take up the card in large numbers.
“The society is committed to working with various partners to negotiate for more benefits that will enable all members to tap in. With the new card, members who would otherwise be transacting using cash now have the option of operating with a less risky cashless mode”, explained an Emo Representative at the launch.
To make it easy to apply for the card, the society has introduced a mobile solution whereby members would dial *269*90# and they will be guided accordingly. Cards will be delivered to be collected at a nearest Emo Agent. This is truly digital added the Emo Representative.
Muriithi added: The introduction of this card has comes at the right time when devolution has indeed opened up the counties, making them new business hubs in the regions. That means an increased need for comprehensive yet tailor-made financial solutions to facilitate growth and success in business.