Bank of Kigali has unveiled a new flagship product, called BK Arena Prepaid Card that would allow anyone including unbanked youth to have a visa card for digital payments without owning any bank account. The BK Arena Prepaid Card is part of the Bank’s grand strategy of aggressively reaching the youth. Anyone who owns the card can easily load money onto a prepaid wallet and can be used like any other bank card. To make the BK Arena card easier to acquire, BK accounts will not be a prerequisite to own a card. The new card comes right after BK Group entered into partnership with QA Venue Solutions that saw the iconic Kigali Arena change its name to BK Arena. As a fact, card holders will have special benefits at BK Arena including discounts on tickets, foods and beverages inside BK Arena. They will also participate in raffle draws and benefit from periodic promos. 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 or Passport and is an adult. The card has a validity of 3 years. It costs Rwf 5000 and will be loaded in Rwandan francs, however, the card holder can make payments for any currency both domestically and internationally. Upon acquiring the card, one can load money on it using several options including Internet Banking, BK branches, MTN Wallet. Loading money on the card is free Bank of Kigali is also planning to soon enable loading money on BK Arena cards using BK-agents, BKApp (Mobile Banking) as well as USSD/ mobiserve. The card comes with a number of features that makes it user-friends to any holder. Among those features include a simple KYC (Know Your Customer) using your national ID or Passport. KYC is a process of identifying and verifying the clients identity when opening an account and periodically over time. Card holders will be able to make payments on POS and online and no transfer charges will be imposed on payments. Also, the holder can freely select and change their pin as well as use the card on Tap&Go POS and other devices accepting card payments. A holder can as well access free instant SMS and email notification for every transaction. With BK Arena Prepaid Card, one gets better management of their funds and control spending. The card is acceptable worldwide on ATM, POS and online while in Rwanda, it can be used for payments to over 3,000 POS merchants and over 200 ATMs.
