NMB Bank has launched a TapCard that only needs to be tapped against a point of sale machine to pay for any purchase. The card is available to anyone, including those who do not have an NMB bank account.
The TapCard
will make it possible for people to pay their bus fares or even buy supplies at
tuckshops and vendors, fast and efficiently.
NMB Bank head of digital banking Cloud Nhau explained that the TapCard does precisely what the name implies. Just one tap on an NMB point of sale machine or other supported devices and the transaction is completed within a second.
Mr Nhau said NMB Bank introduced the card after noticing that many people continue to queue at banks for small amounts of 20 to 40 dollars for making small payments.
He pointed
out that many cashless payment transactions are delayed due to network
congestion, which is a huge inconvenience not only for the person making the
transaction but for others queuing behind them to make their payments.
“People are queuing for cash at banks to make small
payments such as bus fares for themselves and their children as well as pocket
money or any household use. Cashless payment options such as swiping or using
mobile money are not always convenient for these sort of small payments.
“NMB decided
to launch the TapCard to cater mainly for these small transactions as it does
not require a PIN number, provides a secure method of making a cashless payment
and takes just a second to complete the transaction.
“Anyone can
get a TapCard with or without an NMB bank account. Unlike the standard swipe
card, the TapCard utilises near field communication (NFC), which does not
require any network for transactions to be processed, making it possible for
use anywhere, especially in remote places that include those that many buses go
to.
“This can
give transport operators more business and control over fares as the TapCard
can be used in geographically remote places,” he said.
The TapCard can be topped up at any of the more than 4 000 NMB merchants across the country, NMB bank branches or via ZIPIT, Ecocash, KaGwenya or any Zimswitch enabled point of sale device, Mr Nhau said.
“The TapCard
does not have monthly or transaction charges. It’s as good as cash. It will
initially be distributed through all the NMB branches and TapCard agents nationwide.
“NMB has partnered transport operators’ associations and schools to offer this fast and easy way of making payments. Other places which will soon be accepting TapCard payments include tollgates, City Parking, tuckshops and vendors,” Mr Nhau added.
“We are also looking into providing TapCard
payment facilities at places such as fuel stations to help make the payment
process shorter, especially when one has spent hours queuing for fuel,” he
added.