Lack of awareness hampering smartcard usage

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Minister of trade and industry, Francois Kanimba watches on as an SP fuel attendant uses a Point of Sale device to effect a fuel payment using his Visa.

As the country strives to shift payments to cashless economy, lack of awareness is one of the barriers to smart card usage, a key element of cash lite economy.

Francois Kanimba, minister of trade and industry says that most people are not aware that their electronic cards can be used in daily transactions such as buying goods without using cash.

“Consumers are not aware that they can use their card for other purposes besides withdrawing cash,” said Minister Kanimba while presiding over the launch of fuel up with your Visa card campaign in Kigali on Tuesday.

The promotion run by Visa inc., global payments Technology Company in partnership with five fuel stations in Kigali is aimed at encouraging car owners to fuel at petrol stations using their visa cards.

With such promotions, there is optimism that the awareness on the use of payment cards is likely to increase thus pave way for a cash lite economy, government expects by 2020.

With the growth of e-commerce, consumers will continue to offer motorists a host of payment options at the pump,” said Maurice Toroitich, Chairman of the Rwanda Bankers’ Association Toroitich.

According to Central bank latest figures, the use of smart cards increased in the forts half of 2015 with debit cards increasing to 654,349 from 532,157 in the same period last year while credit cards increased to 3,675 from 1561 cards.

“This promotion is a win-win for consumers as they will not only enjoy the usual benefits of paying with their Visa card,” said Lucy Mbabazi, Visa Rwanda country manager.

The promotion last till 11th September will see motorists and drivers who buy fuel worth Rwf 8,000 and Rwf20, 000 would get an extra Rwf2, 000 and Rwf5000 respectively.



About the author

Olive Ndaka is the Junior Editor for RwandaEye. An investor and young entrepreneur, she is a quick learner and has contributed many articles for RwandaEye in Kinyarwanda.

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