Stanchart Launches E-Debit Card
STANDARD Chartered Bank customers in Uganda will be linked to one of the world’s leading debit card payment systems.
STANDARD Chartered Bank customers in Uganda will be linked to one of the world’s leading debit card payment systems, a move which will ease transactions and boost tourism, Francis Robertson, the bank’s head of Consumer Banking.
Vision Reporter writes that the Visa Electron Debit Card would enable account holders access money from their bank accounts to pay for goods and services without physically going to the bank or ATMs to withdraw cash.
The card would enable customers with local accounts to access their money from anywhere in the world.
The bank has been offering visa card services in Uganda since 2001 but only to individuals with accounts abroad.
“We are making it possible for our customers with cards issued in Uganda to access their accounts from any ATM in the world provided those banks belong to the Visa family,†Francis Mills-Robertson, SCB Head of Consumer Banking.
“There is no other bank in Uganda offering this kind of convenience. We expect others to join in later as we lead the way into the new age of plastic money. This is going to boost tourism in Uganda.â€
Cards will be offered to Stanchart account holders for 15,000 shillings and each transaction off the card will cost $2.50 (4,800 shillings).
Visa is available in 170 countries in the world, with close to half a million Visa enabled ATMs and about 12 million point of sales terminals worldwide. There are more than one billion cards and in 2003, $2.7 trillion in goods and services were purchased using Visa.
In developed economies point of sales terminals can be found in restaurants, hotels, health clubs, bars, shopping arcades, discotheques and any cash payment point. In Uganda there are points of sale terminals at the Sheraton and Dolphin suits in Bugolobi, but these are still manually operated.
Jointly owned by 21,000 member financial institutions around the globe, Visa is a private, for profit association dedicated to serving its members, cardholders and merchants.
Through its member financial institutions, Visa offers the world’s most established and widely accepted credit cards and other payment solutions for both consumers and businesses.
Shem Nnaggenda, Head of Information Technology SCB said the cards would be issued at a cost of sh15, 000 for existing customers. New customers will have to go through the normal process of account opening.
“Our customer base is constantly on the move across Africa and the Globe. We therefore recognise their need for convenient and technologically advanced banking products that will make banking and their lives easier,†Hilda Karamagi, SCB Head of Marketing said.
“The new SCB VED aims to do just that by giving them round the clock access to their funds wherever they are. This is yet another milestone in our commitment to delight our customers,†she added.
Visa’s history traces back to 1958, when Bank of America launched its blue, white and gold BankAmericard.
The name Visa was introduced in 1976 and since then has grown into the premier payment brand.
While much has changed in the last three decades, consumers, businesses and merchants around the world still identify the Visa brand with acceptance, convenience, flexibility and security.
Ends
Vision Reporter writes that the Visa Electron Debit Card would enable account holders access money from their bank accounts to pay for goods and services without physically going to the bank or ATMs to withdraw cash.
The card would enable customers with local accounts to access their money from anywhere in the world.
The bank has been offering visa card services in Uganda since 2001 but only to individuals with accounts abroad.
“We are making it possible for our customers with cards issued in Uganda to access their accounts from any ATM in the world provided those banks belong to the Visa family,†Francis Mills-Robertson, SCB Head of Consumer Banking.
“There is no other bank in Uganda offering this kind of convenience. We expect others to join in later as we lead the way into the new age of plastic money. This is going to boost tourism in Uganda.â€
Cards will be offered to Stanchart account holders for 15,000 shillings and each transaction off the card will cost $2.50 (4,800 shillings).
Visa is available in 170 countries in the world, with close to half a million Visa enabled ATMs and about 12 million point of sales terminals worldwide. There are more than one billion cards and in 2003, $2.7 trillion in goods and services were purchased using Visa.
In developed economies point of sales terminals can be found in restaurants, hotels, health clubs, bars, shopping arcades, discotheques and any cash payment point. In Uganda there are points of sale terminals at the Sheraton and Dolphin suits in Bugolobi, but these are still manually operated.
Jointly owned by 21,000 member financial institutions around the globe, Visa is a private, for profit association dedicated to serving its members, cardholders and merchants.
Through its member financial institutions, Visa offers the world’s most established and widely accepted credit cards and other payment solutions for both consumers and businesses.
Shem Nnaggenda, Head of Information Technology SCB said the cards would be issued at a cost of sh15, 000 for existing customers. New customers will have to go through the normal process of account opening.
“Our customer base is constantly on the move across Africa and the Globe. We therefore recognise their need for convenient and technologically advanced banking products that will make banking and their lives easier,†Hilda Karamagi, SCB Head of Marketing said.
“The new SCB VED aims to do just that by giving them round the clock access to their funds wherever they are. This is yet another milestone in our commitment to delight our customers,†she added.
Visa’s history traces back to 1958, when Bank of America launched its blue, white and gold BankAmericard.
The name Visa was introduced in 1976 and since then has grown into the premier payment brand.
While much has changed in the last three decades, consumers, businesses and merchants around the world still identify the Visa brand with acceptance, convenience, flexibility and security.
Ends