
Using Prepaid Cards for Micro-Credit Disbursement
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| In May 2009, FINCA's affiliate in Mexico--one of the leading microfinance institutions (MFI) in the country--began a pilot test of the “Cheque Inteligente” prepaid card, offered in partnership with HSBC, a leading commercial bank in Mexico.
The prepaid card is also a useful money management tool, enabling clients to draw down their loans as needed, instead of having to do so all at once. Despite the advantages of the card, knowledge gaps and adverse attitudes can present obstacles to the successful uptake of card-based services, particularly among clients with little previous exposure to ATMs and merchant POS. |
With support from USAID and Visa Inc., FINCA designed a hands-on training program for its clients to help them overcome these obstacles and take advantage of the benefits provided by the prepaid card.
This website presents information on FINCA’s training program within the context of branchless banking and financial education; highlights the results of the program; and provides useful tips for MFIs that would like to offer similar training. |