Financial service institution Stanbic Bank has unveiled contactless debit cards and Point of sale machines as part of its technology advancements initiative being accelerated by the COVID19 pandemic.
The contactless transaction cards will enable convenience and innovative means of conducting transactions being the latest series of advanced technology the bank has introduced.
Stanbic Bank posted announced on Twitter on Wednesday , Financial services institution Stanbic Bank zw is ready to launch contactless debit cards & POS machines as it forges ahead with its highly innovative technology advancement approach accelerated by the COVID19.
Head of Personal and Business Banking, Patson Mahatchi said ,“Stanbic Bank is proud to be among the first banks in Zimbabwe to introduce this new technology which has been accepted in 78 countries worldwide. This year it is estimated that all point of sale terminals in Europe will be contactless enabled, so we do not want to lag behind hence we are introducing this innovative product in our part of the continent.”
Mahatchi said contactless enabled payment is safe, quick, simple and convenient and is available to merchants locally and internationally.
“This is a highly secure innovative technology for which we have already started customer education. The contactless transaction cards are very convenient during these COVID-19 times we are living in as it limits contact and plays a pivotal role in ensuring that one stays safe while still doing their transactions,” he said.
The “Tap and Go” cards offer easier processing of payments with faster checkout times which do not require signatures or pins to ensure convenient transacting.
A customer will only be asked to enter a pin if they are trying to perform a contactless transaction which is above the maximum contactless transaction limit, or when the terminal is not contactless capable.
“The card can still be used on ordinary non-contactless purchase transaction terminals which require a pin when inserted into a merchant terminal.,” said Mahatchi.