Stanbic Set To Launch Unique Contactless Debit Cards/POS Machines

Stanbic Bank has announced that it will soon launch a tap and go contactless payment checkout feature that involves contactless debit cards and POS machines as part of their  COVID-19 containment efforts as a bank, Equity Axis reports.

This was revealed by Head of Personal and Business Banking, Patson Mahatchi who 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 further explained that the customer will only be required to punch in their password if or when “they are trying to perform a contactless transaction which is above the maximum contactless transaction limit, or when the terminal is not contactless capable.”

Stanbic a few weeks ago launched SlydePay which can be used by their customers to pay bills and make in-store purchases on their phone using QR code scanning technology.

More: Equity Axis

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