Stanbic Bank Tanzania has launched contactless debit cards, which allow customers to tap their cards to complete a payment transaction, instead of inserting the card into a point-of-sale machine and entering a PIN.
“The introduction of this payment method is intended to make it easier, safer, and faster for our customers to transact,” says head of Personal and Business Banking of Stanbic Bank, Brian Ndadzungira.
The cards improve customer convenience, with shorter transaction times and remove the need to withdraw or handle cash.
Purchase transactions with a PIN usually take around 30 seconds, while a contactless payment takes about 10 to 15 seconds to complete.
Every purchase is secure, protecting both the data and the account of the customer. Customers will receive a contactless Visa card on the first application for a new card, or when they renew or replace their existing card.
The ‘tap-to-pay’ Visa cards are accepted locally and globally at merchants including retail stores, fast food restaurants, pharmacies, grocery, convenience stores and at transit locations.
“We strive to be at the forefront of new technology that will make the customer’s life safer and easier. We are equipped with the type of payment methods that customers require and will continue to build upon as we understand merchants accepting contactless transactions are also increasing every day,” concludes Brian Ndadzungira.
Stanbic Bank Tanzania is part of the Standard Bank Group, Africa’s largest bank by assets. The Bank provides the full spectrum of financial services to businesses and individuals.