07 Dec 2013 16:40pm
WINDHOEK, 07 DEC (NAMPA) - The Polytechnic of Namibia (PoN) and Nam-mic Payment Solutions (NPS) launched a new student card with the functionality of a low-cost transactional account in the capital on Thursday.
Students will now be able to use their student cards as an affordable transactional account and will be able to receive cash back on pre-negotiated discounts at participating stores.
PoN Rector Dr Tjama Tjivikua said in his welcoming remarks during the launch that the Polytechnic aims to provide quality services to its students, staff and alumni, especially with the fast-paced developments in the domain of banking and telecommunications.
The NPS vision is to provide a multi-functional, cost affordable bank type e-wallet that is accessible via a card, mobile and internet connection at a fraction of the cost of traditional banking products which provide saving mechanisms.
The cards to be issued by the PoN in collaboration with the NPS will offer the usual benefits and rights associated with a student card, such as it being used as a form of identification for access to the PoN, library services, examination, hostel facilities and meals.
The new cards can be used to fulfil banking transactions such as deposits, withdrawals, purchases and transfers, or be linked to a mobile or internet web portal to initiate transactions which include payment for discounted airtime and pre-paid electricity, Tjivikua noted.
The student-cum-bank card provides access to a network of Nam-mic and Bank Windhoek retailers, branches and automated teller machine (ATM) infrastructure throughout Namibia, thus offering a retail, branchless and mobile bank-type experience.
The Rector added that the PoN is entering into a Community Partner Agreement with the NPS, which will ensure that the PoN will be able to facilitate payments made by Nam-mic Cellcard by holders.
All PoN students will be issued with the Polytechnic NPS student-cum-bank card when the first semester commences in 2014, he said.
Upon the passing of the necessary legislation of the name change of the PoN to the University of Science and Technology, a NUST-branded card will be issued to all students at registration, immediately following such promulgation of the legislation.
We are indeed known as the technological university and leader in technology solutions in Namibia's higher education, Tjivikua remarked.
This is a first of its kind joint venture between a financial service provider and a higher education institution in Namibia.