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South African bank set to offer pre-paid e-money cards
4 Nov 2010

A South African bank is set to launch a new range of pre-paid e-money cards, it has been revealed.

ABSA Bank has teamed up with Oberthur Technologies to develop the new dual-interface cards which can be used to make both contactless and contact transactions.

Users will be able to hold a maximum of 1,500 Rand (£130) on the card at any time and purchase low-value goods worth up to 200 Rand (£17).

Julia Schoonenberg, payment business director for Russia, Middle East and Africa at the Card Systems Division of Oberthur Technologies, expressed his pride at the landmark deal.

He said: "This card is the first of its kind in South Africa and demonstrates the commitment of both ABSA Bank and Oberthur Technologies to innovation by providing new solutions, which benefit the daily lives of ABSA's customers."

The pilot phase of the programme is expected to be competed shortly and the cards should be widely available by early 2011.