KAMPALA — The National Social Security Fund(NSSF) in partnership with Visa and Centenary Bank has unveiled a three-in-one social security smart card that embeds NSSF functionality, bank functionality, and a loyalty program, the first of its kind in Sub-Saharan Africa.
Speaking at the launch, NSSF Managing Director Richard Byarugaba revealed that they had for a long time wanted to replace the laminated membership cards with more functional cards that can allow members access more than viewership of their account balance.
“I am glad that this dream has finally come to fruition. I believe that this will greatly improve our customers’ experience,” he said.
He added that the smart card complements their digital claims process, providing easy and faster validation for qualifying members to withdraw their savings in a timely manner.
“This shows that we are on the right track to realising improved turnaround time.”
According to Joseph Balikuddembe, Centenary Bank Executive Director, with the smart card, a customer will have an array of lifestyle services at their disposal in addition to discounts through their various partners in housing and construction, health lifestyle, supermarkets, among others.
“The debit smart card linked to the SMART LIFE account will enable our customers easily access their NSSF funds in less than 24 hours. All existing NSSF members, Centenary bank customers new to NSSF members can access these new solutions,” said Balikuddembe.
Deputy Governor, Michael Atingi-Ego applauded NSSF for being among the institutions that have adopted digital payment channels as demonstrated by the recent roll out of the mid-term access payments most of which are processed digitally.
“I’m glad that the Fund has continued championing digital payments evidenced by today’s launch of the NSSF Smart Card, a three-in-one card program designed to increase efficiency, manage risk and create new opportunities for its members,” he noted.