Prepaid Financial Services Launch MADI Express Prepaid MasterCard Card in Botswana

  Prepaid Financial Services Launch MADI Express Prepaid MasterCard Card in

  PR Newswire

  LONDON, November 12, 2012

LONDON, November 12, 2012 /PRNewswire/ --

- Ground breaking industry collaboration to introduce a more financially
inclusive payment solution

Prepaid Financial Services (PFS) has announced the launch of the MADI Express
Prepaid MasterCard card in Botswana, in a move that introduces more innovative
and financially inclusive payment solutions to the country. The prepaid card
is a collaboration between PFS, Prepaid Debit Card Services (PDS), Kingdom
Bank Africa Limited and MasterCard Worldwide, and will introduce more
convenient, quicker and safer ways to transact to Botswana's citizens.

The MADI Express Prepaid MasterCard card is available in Botswana's local
currency, the Pula (BWP), and represents the first MasterCard Prepaid card to
be launched and issued in Botswana. This introduction of a prepaid payment
solution will assist stakeholders develop a more financially inclusive and
modernised economy, by empowering consumers, businesses, retailers and the
government to operate more efficiently with less dependence on cash.

The MADI Express Prepaid MasterCard allows cardholders to load funds with ease
using their debit or credit cards, a bank transfer, or by loading cash
directly at registered locations, for those customers without bank accounts.
Purchases such as mobile airtime, groceries, tickets for events and travel
can be made, and the prepaid card will also enable cardholders to pre-load
funds to use the card as an electronic savings wallet, helping cardholders
save funds for larger purchases.

Noel Moran, CEO of PFS stated: "The MADI Express Prepaid MasterCard card
launch is another example of the growing adoption of prepaid cards in
developing countries across the globe. PFS is uniquely positioned to provide
full end-to-end prepaid solutions to clients and their customers throughout
Africa, in collaboration with our partners. This launch represents the first
of many programmes that PFS will roll out in the region, and we are delighted
to be leading these prepaid developments across the African continent."

"The prepaid card removes the need to carry cash, and will give users access
to electronic payments via ATM's and point of sale (POS) terminals across
Botswana, and at 33 million MasterCard acceptance locations around the world,"
commented Charlton Goredema, market manager, Southern Africa, MasterCard
Worldwide. "The MADI Express Prepaid MasterCard card is expected to appeal to
consumers who are conscious about budgeting and money management, as well as
those who are risk averse and looking to reduce their exposure to fraud. A
formal bank account is not required to apply for the card, which means that
the safety and convenience offered by this innovative product can be accessed
by all of Botswana's citizens."

"With features such as SMS account management, real time card blocking by SMS,
and the ability to have linked primary and secondary cards, the MADI Express
Prepaid MasterCard card allows cardholders to share money with other
cardholders. Parents can now provide their children with access to funds
while exercising a degree of financial control, helping to educate these young
adults to budget and manage their money without the risk of getting themselves
into debt," Moran added.

In the near future users will also be able to make bill payments for utilities
such as water, electricity, gas, cable TV, mobile phones and broadband, by
using their MADI Express Prepaid MasterCard card and further enhancements are
already underway to allow users to purchase their card and load it with cash
at various stores and retail outlets across Botswana.

Favor Kelapile Marebole, Group Managing Director at Prepaid Debit Card
Services, was delighted with the launch and commented: "The launch of the MADI
Express Prepaid MasterCard card in Botswana, in partnership with reputable
global payments service providers like PFS and MasterCard, is a key milestone
in our efforts to address challenges faced by the country's under-banked and
unbanked communities."

"These challenges are mostly felt by the poor and middle income communities in
rural areas - almost 36% of the total Botswana population. We are excited
about the positive implications that this payment solution will have for these
citizens, a sentiment echoed by all stakeholders including public sector
organisations, NGOs and the private sector," Marebole noted.

Peter Mukunga, Acting Managing Director at Kingdom Bank Africa Limited
commented "We are delighted to partner with Prepaid Financial Services and
MasterCard in bringing the MADI Express Prepaid Card product to Botswana. It
is clearly evident that with the increasing convergence of telecommunications
technology and financial services, banking is no longer a preserve of the
affluent. It has always been our objective to demystify banking, promote
financial deepening and improving access to financial services across
Sub-Saharan Africa and we believe the issuing of prepaid cards is one such
cheap and convenient way of achieving this".

Businesses can also stand to benefit from the introduction of the prepaid
card, as the payment solution can be used for making payments to full time
employees or to non-salaried workers, who hold informal employment and do not
have banking accounts. Prepaid cards can also serve as an excellent
replacement for existing corporate Travel Card programmes and entertainment
expense schemes, which are cumbersome to monitor and are particularly
vulnerable to fraud. Government will also be able to securely distribute
funds to social grant beneficiaries.

"The launch heralds an exciting time for the people of Botswana as the MADI
Express Prepaid MasterCard card is specifically designed for their needs. The
introduction of this innovation in the payments industry is aimed at assisting
the government to position itself as a global economic power-house, one that
is less dependent on cash," concluded Moran.

The MADI Express Prepaid MasterCard card is available to users online at . Alternatively customers can visit our customer
service centres located at Postnet Railpark Mall (Tel: +267-310-2564) by the
Gaborone bus rank or Postnet Molapo cross (Tel: +267-371-0020), Gaborone.

Notes to Editors

The MADI Express Prepaid MasterCard card

About Prepaid Financial Services:

Prepaid Financial Services (PFS) Ltd. is a leading prepaid program manager
operating out of the UK, has live programmes in 10 currencies, and is
recognised as a specialist supplier to the prepaid industry globally. PFS are
FSA regulated and manage programs processing millions of transactions every
week. Our products are utilised by governments, blue chip corporations, SME's
and individual consumers utilising our cutting edge, secure technology.

For more information, go to or call

About Prepaid Debit Card Services:

Prepaid Debit Card Services (PDS) Ltd. prides itself as an innovative prepaid
cards services provider targeting underbanked and unbanked individuals with
lower or erratic income levels through our flagship MADI Express MasterCard
prepaid card. For more information, go to or call

About Kingdom Bank Africa Limited:

Kingdom Bank Africa Limited is a leading offshore banking institution
operating under the International Financial Services Centre (IFSC) in Botswana
and licensed by Bank of Botswana to provide off-shore banking, savings and
investments services, as well as trade finance advisory and corporate
finance/advisory. Main clients include high net worth individuals, companies
involved in cross-border activities and Non-Governmental Organisations. For
more information, go to .

About MasterCard:

MasterCard (NYSE: MA), , is a global payments and
technology company. It operates the world's fastest payments processing
network, connecting consumers, financial institutions, merchants, governments
and businesses in more than 210 countries and territories. MasterCard's
products and solutions make everyday commerce activities - such as shopping,
traveling, running a business and managing finances - easier, more secure and
more efficient for everyone. Follow us on Twitter @MasterCardNews , join the
discussion on the Cashless Conversations Blog and subscribe for the latest
news .
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