CardPlanet Solutions, a Kenya-based personal information solutions company, recently launched an electronic wallet service called “Pesacard” that will enable parents to transfer money via mobile phone to their children in school. According to CardPlanet, the new program will “provide a secure way of [sending] money to youth,” particularly those attending boarding school, and “promote accountability and…financial inclusion among youth.” Children will be able to use their Pesacards, which are personal identification number (PIN) protected, to withdraw money from a Point of Sale (POS) terminal device in school. Both parents and students will need to register for the Pesacard service, and each parent’s account will be linked to his or her phone number. Students will not have to pay to use a POS, but parents are charged an unspecified transaction fee when loading money onto the cards from their mobile phones. According to CardPlanet, PesaCard could also be used as a school identification card since the cards bear the student’s personal profile [1].
Financial information for CardPlanet is unavailable.
By Michael Averell, Research Associate
About CardPlanet Solutions
Established in 2012, CardPlanet Solutions is a Kenya-based personal information solutions company that specializes in developing smart cards, Point of Sale terminals and other portable computer, cloud-based and web application devices. Financial information for CardPlanet is unavailable.
Sources and Additional Resources
[1] Human Initial Public Offering (IPO) News: “CardPlanet launches Pesacard to limit cash transactions in schools,” http://www.humanipo.com/news/7370/CardPlanet-launches-Pesacard-to-limit-cash-transaction-in-schools
MicroCapital story, June 29, 2013, “MICROCAPITAL EVENT: 2013 Mobile Money for the Unbanked Global Event, July 8-11, 2013, Nairobi, Kenya,” https://www.microcapital.org/microfinance-event-2013-mobile-money-for-the-unbanked-global-event-july-8-11-2013-nairobi-kenya/
MicroCapital story, May 28, 2013, “MICROCAPITAL BRIEF: Kenyan Settlement Bangladesh Adopts Bangla-Pesa, a Complementary Currency for Business,” https://www.microcapital.org/microcapital-brief-kenyan-settlement-bangladesh-adopts-bangla-pesa-a-complementary-currency-for-businesses/
MicroCapital story, April 18, 2013, “MICROCAPITAL BRIEF: Alliance for Financial Inclusion Launches African Mobile Phone Financial Services Policy Initiative (AMPI),” https://www.microcapital.org/microcapital-brief-alliance-for-financial-inclusion-launches-african-mobile-phone-financial-services-policy-initiative-ampi/
MicroCapital Universe Profile: CardPlanet Solutions https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=CardPlanet+Solutions
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/
Similar Posts:
- MICROCAPITAL BRIEF: Moniepoint Microfinance Bank Launches Mobile Banking App, Debit Card in Nigeria
- MICROFINANCE EVENT: Social Enterprise Conference; October 27, 2023; New York City, USA
- MICROCAPITAL BRIEF: Universal Insurance Launches Mobile App, Referral Platform in Nigeria
- SPECIAL REPORT: The Business Case for Education Finance #EMW2023
- MICROFINANCE EVENT: International Social Innovation Research Conference (ISIRC); September 6-9, 2023; Guimarães, Portugal
