Standard Bank is supporting the mass rollout of contactless cards across Africa as the financial services group reports an accelerated increase in the use of tap and pay across the continent.
Based in South Africa, the group is currently enabling contactless payment capabilities for customers in 15 African markets, including Botswana, Eswatini (Swaziland), Ghana, Kenya, Lesotho, Malawi, Mozambique, Namibia, Tanzania, Uganda, Zambia and Zimbabwe.
“Covid-19 has accelerated the issuance of contactless enabled cards and the upgrade of merchant terminals to accept contactless payments,” says Standard Bank’s head of card issuing Israel Skosana.
“This comes in response to increasing demand from both consumers and merchants alike. Businesses are more reluctant to accept cash, consumers don’t wish to touch payment terminals, and everyone is more conscious of reducing their human contact.
“The introduction of this payment method will improve customer convenience, with shorter transaction times, and eliminates the need to withdraw or handle cash.
“Security is also enhanced as a customer keeps their card with them rather than handing it to someone else.”
“We are supporting the shift away from cash in our African markets to limit crime rates, improve convenience and safety for customers, and bring more people into the formal financial system to stimulate the continent’s growth and development,” Skosana adds.