Standard Bank Supports Shift Away from Cash with Virtual Card, Samsung Pay
The shift away from cash and towards digital and contactless payment methods has been accelerated by the pandemic. This, Standard Bank believes, will remain at elevated levels, and continue to grow under the new normal. “Digital payments have now become a critical service,” says Ethel Nyembe, Head: Card and Payments, Standard Bank Group. “They allow for commerce to continue while reducing the risk of physical interaction and infection. We know that we will be living with the risk of Covid-19 for a long time to come and need to find ways to continue with life despite it.” In 2018, Standard Bank launched Africa’s first prepaid and co-branded virtual card that can be loaded in real time from any account that a customer has with Standard Bank. The card is accessible on the Standard Bank mobile app, where it can be created – at no extra charge – and topped up on a regular basis. Standard Bank customers can then use the virtual card to make purchases onli...