Affordable student cards a success
Due to the cost saving nature of the Polytechnic’s revamped student cards under the administration of e-banking specialists Nam-mic Financial Services Holdings – in partnership with Bank Windhoek, there is a considerable demand at other tertiary institutions since its launch last year.
The student card which is attained during registration, whereby students are required to complete separate application forms as compared to the conventional student cards, is activated during this period and any registered student will be able to reap the benefits of the services.
Nam-mic Operations Executive Abri Krige spoke to the Economist, stating that the new cards have been well received.
Saying that the majority of the students in Windhoek have being issued with their new cards and are already enjoying the saving benefits of cost affordable transactional accounts which include cash backs through access to discounted groceries, airtime, petrol and stationary.
“Currently we are in the process of issuing student cards to the rest of the campuses in Namibia, which is an ongoing process.” he added
Krige said that the students enjoy a cost affordable ‘pay as you go’ type transactional account, with no minimum balance, no penalty fees, which does not expire, and where no costs are incurred on a card if it is not used. Added to this is access to pre-negotiated discounts for products and services that puts cash back onto their e-money account balances for normal day to day expenses they would have paid for using cash.”
As for challenges so far with the process he stated that with Bank Windhoek’s established and extensive national branch and ATM network, combined with their increasing Nam-mic merchant network, there are currently a number of choices for students to have access to discounted purchasing, as well as access to cash deposit and withdrawal points hence they have not encountered any problems. Asked on any future plans to in-cooperate with other banks he stated, “Bank Windhoek is our bank of choice and have been integral in assisting to maintain a low cost base for transactions on their network of ATM’s and terminals. We therefore do not have plans to engage with other banks, but are looking in having the cards accepted on all bank ATMs and terminals in the future.” “We look to promote a safer and secure way of paying through students using their student cards or linked Mobile Phones, that incentivises the students but also reduces the risk of them always having to have cash on them.” he stated.