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.