Absa Bank targets unbanked market with portable kit

Absa Bank targets unbanked market with portable kit

South Africa's Absa Bank has released a portable banking kit in a bid to provide people without accounts with access to financial services, according to local press reports.

The portable kit consists of a PC, thermal printer, scanner and a modem. The kit allows staff to open bank accounts, issue debit cards and set PINs in areas where there are no branches.

Additionally, Absa Bank and its subsidiary Allpay have launched Sekulula, a debit card that allows recipients of social welfare benefits to access funds at any ATM. Cardholders can also deposit money into their debit card account.

Israel Skosana, Absa's executive director and chairman of AllPay, told local press that that as many as 15 million people in South Africa do not have bank accounts compared to 20 million who do.

He added that the Sekulula debit card will enable thousands of customers to access banking for the first time.

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