Oxfam, Visa, UnionBank and payments provider i2c have joined forces on the Electronic Prepaid Solution (EPS) Project, which aims to deliver funds into disaster-struck communities.
Currently being piloted in the Philippines, families identified by Oxfam are issued with an EPS card, which is credited with a fixed amount that can be withdrawn from ATMs and remittance centres, or spent in-store at local merchants.
The scheme is operating in areas affected by 2013’s super typhoon Haiyan. Since December 2014, 2,700 prepaid cards have been issued, with a total of £188,023 transferred to beneficiaries. Oxfam said that the success of the project in the Philippines meant it had plans to replicate the scheme in future humanitarian response initiatives.
Stuart Tomlinson, Visa country manager for the Philippines and Guam, added: “The programme has proven that the Oxfam Visa prepaid card is more than just a payment tool that enables beneficiaries to purchase everyday items conveniently and securely. It also ushers many of the beneficiaries into the formal financial system, helping them develop life-enhancing financial skills.”
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