Chase Offers Student Prepaid Cards in Kenya

JPMorgan Chase has partnered with electronic payment processor ElectraCard Services (ECS) and the University Students Community Organization (UNISCOO) to offer MasterCard prepaid cards to its customers in Kenya.

The cards will operate on the ElectraCard's electraPrepaid platform, which is hosted at ECS's data center, and will be branded as UNISCOO cards. The cards can be topped up at Chase, M-Pesa or Airtel Money locations.

UNISCOO will also use the cards as a form of ID, allowing students to receive discounts at various retailers.

"Through a secure, efficient and cost-effective payment system to carry multiple currencies, the prepaid card will offer flexibility and reliability to our customers," says John Fernandes, assistant general manager of Chase Bank, in a Jan. 29 press release.

M-Pesa's success has provided a foundation for Kenya and M-Pesa to adopt a number of other financial services. JPMorgan Chase has aggressively promoted its consumer prepaid products, though it has recently indicated that wants to sell its corporate prepaid business.