Standard Bank launched its latest innovative product called BlueWallet on Thursday last week.
As a virtual prepaid account, customers are given the option to make payments for goods and services from their BlueWallet at registered retail outlets without having to carry around physical cash or a bank card. This distinct benefit is made possible through Wi-Code technology.
Standard Bank’s BlueWallet is a virtual prepaid account allowing customers to send money; top up airtime; purchase pre-paid electricity; pay Multi-Choice accounts; withdraw cash at a Standard Bank ATM, and transact at any Shoprite, Checkers or Engen service station. In addition, clients can pay Windhoek or Walvis Bay rates and taxes using BlueWallet.
Other benefits for customers are sending money to any mobile number or to any MTC-Wallet account using BlueWallet. You can get your account balance, see the last five transactions on your account and able to change your PIN. Through the company wallet, registered companies can make monthly salary payments to their employees.
Standard Bank’s Chief Executive Vetumbuavi Mungunda said that the bank’s vision is “to be Namibia’s agile provider of innovative financial solutions.”
“We plan to attain this vision through exceptional customer service, continuous innovation, engaged and empowered employee force, operational efficiency and local relevance. This journey started with the implementation of the new core banking system for the bank, Finacle, a new state-of-the-art system designed to enable innovation, agility and advanced functionalities for the benefit of customers,” said Mungunda.
He added that the next phase of Standard Bank’s journey is the innovation phase of introducing exciting and innovative products.
“Today we are launching our BlueWallet product which has features superior to other wallet products in the market. Some of the enhanced features include Bulk payments by companies, tiers that allow for amounts in excess of N$2 000 to be transacted if you are KYCed, Wi-Code which allows for transacting cash-less or card-less at large merchants and the ability not to withdraw all your funds from your Wallet. This is indeed a truly innovative product ahead of its time in the Namibian market,” said Mungunda.
The launch of BlueWallet was done in partnership with MobiPay.