uKheshe, which claims 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 new card offers all of the features that the normal uKheshe QR card does, but also including added hospital and life benefits for the card holder.
Clayton Hayward, co-founder of uKheshe, says that in another step towards greater financial inclusion, this new card provides essential cover for South Africa’s unbanked and underbanked consumer.
“This latest innovation from uKheshe provides health and accidental insurance cover for as little as R60 per month. 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.”
With more than 11-million unbanked consumers, Hayward says that the uKheshe Life card is ideal for consumers or small business owners wanting 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.”
To continue improving financial inclusion locally, uKheshe Life card holders do not need a bank account, nor do they need to undergo medical tests or complete any paperwork. Consumers get R5 000 funeral cover and a private hospital guarantee. In the event that an accident occurs, a R100 000 accidental and emergency fund is released, as well as R100 000 death and disability benefit.
Launched in November 2018, the uKheshe card enables consumers to make and receive payments by using a QR code card and a smartphone on which the app is installed. No bank account is required and the uKheshe wallet grows as people pay into it. Withdrawals are made at any Pick ‘n Pay paypoint till or consumers can use the funds to buy goods.