Useful links:
eMoney News | eMoney Press Releases | sQuid schemes - eMoney

eMoney News

SA bank set to introduce contactless smart cards
17 Sep 2010

A South African bank is set to offer its customers the chance to pay for low-value goods with contactless smart cards.

Barclays' owned Absa Bank will roll out MasterCard's contactless PayPass payment cards following a successful 18-month trial of the technology, reports sowetanlive.co.za.

Cardholders will be able to make transactions up to a maximum of R200 (£18), while the cards will hold a balance of up to R1500 (£134).

Credit can be added to a customer's account via a bank transfer or cash, allowing customers to top-up online or at an ATM.

Simon Just, Absa general manager of consumer issues, revealed that the cards will be used as a transit card in the future to pay for bus, rail and taxi fares.

"Absa and its consortium are already working to deliver a low-value payment solution for the City of Johannesburg's Bus Rapid Transit system," he said.