Absa Bank Kenya has partnered Kenya Medical Association (KMA) to launch prepaid multi-currency smartcards. The cards double up as both membership identification and a prepaid card that enables doctors to access electronic payments, among other financial benefits.
KMA members will also enjoy the benefits of relationship management, credit access with business unsecured loans of up to KES10 million, personal unsecured loans of up to Ksh. 6 million, and tailor-made asset financing and mortgage facilities offering discounted interest rates. They will also be entitled to an Absa Platinum and Gold Credit card that offers convenience, safety, ease, and a contactless payment solution for their transactions.
Absa Bank’s Head of Premier Banking Simon Gachahi said the new proposition is aligned with the bank’s strategy to accelerate organic growth through sector-focused customer and product segmentation to enhance competitiveness. He also reiterated the bank’s commitment to delivering bespoke customer value propositions to different professionals like teachers, doctors, lawyers, the disciplined forces, amongst others. We have been speaking to our customers and professionals from different fields in a bid to understand their specific needs and this new proposition for our doctors is just one among many others that we are rolling out for our customers in various disciplines. For instance, this collaboration will see the delivery of differentiated customer experience and innovative solutions that speaks to the doctors’ life cycle.”
Under this partnership, medical professionals licensed by the Kenya Medical Practitioners and Dentist Council (KMPDC) and practicing in both private and public health care sectors will receive prepaid cards that will also act as a KMA membership card. These cards also possess transactional capabilities where members can load funds via Absa online banking, MPESA or a visit to any Absa branch. KMA can also load funds to any member’s cards undertaking travel or other activities on behalf of KMA.
The partnership comes at a time when the country’s financial sector is fast-tracking the adoption of digital money systems thus making digital payments critical in the post-pandemic era.