UBA Cameroon wins Prepaid Innovative Product of the Year award

UBA Cameroon won the award for its innovative Cobranded Student ID Visa Prepaid concept, which aims to provide universities and students with a multi-function Visa card.

Serving as an identification card for the student, with information identifying the student and indicating his or her department and university year, this reloadable prepaid card can also be used internationally. This is the first prepaid programme of its kind in Francophone Africa.

Thanks to its Student UBA prepaid Visa card, UBA Cameroon has signed three partnerships with the largest universities in the country: Université de Douala, Université de Yaoundé 1 and Université de Yaoundé 2. Today, 50,000 cards are used by students at Université de Douala and close to 100,000 more are being produced for Université de Yaoundé 1 and Université de Yaoundé 2.

Largest increase

"Africa is the continent that will see the largest increase in electronic payments between now and 2016," Mohamed Touhami El Ouazzani, GM of Visa for Morocco and Francophone Africa, said. "In this area, Visa offers numerous innovation-based mobile banking services and solutions through its partnerships with financial institutions and international mobile phone businesses, notably via Samsung Pay and Apple Pay.

"Thanks to Visa Token Service technology, these two new services will facilitate secure payments with a broad range of connected devices. They will replace the sensitive payment account information contained on plastic cards with a digital account number that can be stored in complete safety on mobile devices and used to pay for purchases in stores or through apps," he concluded.