uKheshe, which is said to be South Africa’s cheapest and most convenient QR cash card, has announced the launch of uKheshe Life, a hospital, disability and life benefits card
The card offers all the features that the normal uKheshe QR card does, but also includes added hospital and life benefits for the cardholder.
Clayton Hayward, co-founder, uKheshe, said this new card provides essential coverage for the unbanked and underbanked consumer of South Africa in another step towards greater financial inclusion.
“This latest innovation from uKheshe provides health and accidental insurance cover for as little as US$4.2. These benefits are instantly activated when a user signs up for an uKheshe Life card and is deducted automatically from the user’s uKheshe wallet,” he added.
With more than 11mn unbanked consumers, Hayward stated that the uKheshe Life card is ideal for consumers or small business owners who want to provide affordable benefits for employees.
“Not only can you use it to pay someone, but the user will receive all the benefits, including accidental cover, should an incident occur on the job or at home,” he noted.
The company noted that uKheshe Life card holders do not need a bank account to continue improving financial inclusion locally, nor do they need to undergo medical tests or complete any paperwork.
Consumers can get a funeral cover of US$349.67 and a private hospital guarantee. In the event of an accident, an accidental and emergency fund of US$6993.35 will be released, as well as a death and disability benefit of US$6993.35.
Launched in November 2018, the uKheshe card enables consumers to make and receive payments using a QR code card and a smartphone on which the app is installed. Withdrawals can be made at any Pick n Pay till points or consumers can use the funds to buy goods.
