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Banking & Finance news

Standard Bank launches contactless card system

By: Sure Kamhunga | 7 Dec 2012 15:15
Standard Bank has launched a contactless card system for its Gold and Titanium credit and cheque cards which will be equipped to allow customers to make payments via the 'tap and go' method‚ rather than swiping or inserting cards.
Sugendhree Reddy‚ head of personal markets‚ said in a statement: "The introduction of this new payment method forms part of Standard 's consistent focus on providing customers with value in banking.

"There are evident trends internationally and locally driving consumer preference towards fast‚ convenient and secure payment methods.

"The new 'tap and go' cards are linked to a customer's bank account‚ allowing for funds to be deducted directly from their account.

"Unlike many systems currently available‚ customers don't have to pre-load cards with money to use this method of payment ‚" she said.


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