Nedbank gets ‘chip-and-pin’ compliant
Nedbank Namibia clients will be pleased to notice the lender’s latest feat in rolling out new and improved bank cards, ahead of legislative requirements to do so.
The bank said this week it is currently rolling out the new ‘chip-and-pin’ technology cards to its current account and savings account clients, replacing the outdated magnetic strip cards.
The central bank has stipulated that all current and savings account cards issued by commercial banks in Namibia, implement chip-and-pin technology, by March 2017.
“The new technology provides a major security improvement on the old magnetic strip only cards, and Nedbank is currently one of only two major commercial banks to issue them,” Nedbank said in a statement issued to the media.
The new cards, the bank said, would allow Nedbank clients automated teller machine (ATM) access around the world, as well as free transactional SMSes to track card transactions.
The pre-set transactional limit on the new cards, it said, is N$3 000.
“The cards are also Europay, Mastercard and Visa (EMV) compliant, and can be used anywhere in the world where these payment systems are offered,” Nedbank said.
Clients will not be charged any fees when collecting their first card. Cards can also currently be exchanged at the Nedbank Namibia exhibition stand at the Namibia Tourism Expo, currently underway at the Windhoek Show Grounds.
DENVER ISAACS
The bank said this week it is currently rolling out the new ‘chip-and-pin’ technology cards to its current account and savings account clients, replacing the outdated magnetic strip cards.
The central bank has stipulated that all current and savings account cards issued by commercial banks in Namibia, implement chip-and-pin technology, by March 2017.
“The new technology provides a major security improvement on the old magnetic strip only cards, and Nedbank is currently one of only two major commercial banks to issue them,” Nedbank said in a statement issued to the media.
The new cards, the bank said, would allow Nedbank clients automated teller machine (ATM) access around the world, as well as free transactional SMSes to track card transactions.
The pre-set transactional limit on the new cards, it said, is N$3 000.
“The cards are also Europay, Mastercard and Visa (EMV) compliant, and can be used anywhere in the world where these payment systems are offered,” Nedbank said.
Clients will not be charged any fees when collecting their first card. Cards can also currently be exchanged at the Nedbank Namibia exhibition stand at the Namibia Tourism Expo, currently underway at the Windhoek Show Grounds.
DENVER ISAACS
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