Another first from United Bank Limited (UBL) – this time, it’s Visa Prepaid Debit Card, named UBL WIZ. Prepaid Debit Cards, open up for UBL, the entire bankable population of Pakistan whereby WIZ cards can be obtained by any person no matter which bank he or she has account in and even if the person is unbanked.
The prepaid card with VISA brand gives its cardholders the luxury of using the card anywhere in the world for shopping, making online payments through internet, as well as for cash withdrawal. It’s a card that perfectly matches the lifestyles of various customer segments.
Building upon customers understanding of the prepaid card, UBL WIZ enables the customers to tailor their spending or withdrawal limits, as per their needs. After quick and easy card issuance process from any of the hundreds of bank branches, customers can reload their prepaid cards any number of times to enable them to spend up to the amount that has been pre-deposited into the account. To cater to the needs of untapped Pakistani debit card market and to suit the increase in customer’s mobile lifestyle, UBL now targets a whole new customer base, by issuing the prepaid cards for its account holders and non-account holders alike.
With only 8% of the entire population of 170M people that are banked, prepaid cards are being considered to help banks penetrate the huge unbanked population with its convenient issuance process, spend upto limit concept, acceptability at millions of merchants and hundreds of thousands of ATMs and documentation of spending.
This innovative service offers WIZ cardholders safety, security and convenience simultaneously. The owner of UBL Wiz card can travel freely and securely without the need to carry cash in wallet. Whether it is used online or at outlets, money is directly deducted from the card balance, without the need to visit the bank. The cardholder can withdraw cash from any of over 350 UBL ATMs or from more than 3200+ ATMs across Pakistan and from more than 2 million VISA ATMs in 150 countries in stores or online, in Pakistan and abroad. Issued instantly at any of UBL’s branch, customers have a choice of choosing from nine different designs, with the flexibility of different spending and withdrawal limits.
“The Pakistani debit card market remains largely untapped especially with regards to retail spend; and as growing number of customers adopt a mobile lifestyle and secure internet transactions; UBL WIZ is poised to facilitate them in numerous ways. UBL Wiz targets a whole new customer base and brings into the banking fold the unbanked population of Pakistan particularly women, youngsters and both domestic and international travellers.” Said Mr. Najeeb Agrawalla, Group Head – Marketing & Sales, UBL.
