EBank launches MasterCard Debit Cards (The Namibia Press Agency)

Namibia’s first branchless bank, the EBank Limited on Tuesday launched its MasterCard Debit Cards which can be used to pay goods and services at any point of sale device.

The two MasterCards are Easy Debit Card and Smart Debit card.

Speaking at the launch in the capital, EBank Limited’s Chief Executive Officer (CEO) Michael Mukete said Ebank clients now have the choice of using their cellphone to transact at the till points of any of their retail partners countrywide.

EBank’s retail partners are Engen Namibia, Woermann Brock, Agra, and Cymot outlets nationwide.

The introduction of MasterCard debit cards is an essential part of our network expansion strategy and a critical step in making our services and offerings ubiquitous and accessible to all, he said.

Mukete explained that the bank does not have an Automatic Teller Machine network of its own, a unique feature of the EBank MasterCard is that their clients can withdraw money at any ATM of the four major commercial banks in Namibia.

The commercial banks are First National Bank (FNB), Bank Windhoek, NedBank and Standard Bank Namibia.

He explained that the EBank debit cards are Europay, MasterCard and Visa (EMV) compliant, with chip and personal identification number (PIN) and therefore meet international security standards on the Payment Industry Card Data Security Standard (PCI DSS) adopted by Namibian Banking Industry.

Mukete explained that the credit cards will be available at the EBank Service Centre at Wernhil Park in Windhoek.

Meanwhile, EBank’s Chief Operating Officer Gerald Riedel explained that the EBank’s Easy Debit Card can be linked to an EBank Easy or Smart transaction account while the Smart Debit Card can only be linked to an EBank Smart transaction account.

Riedel noted that the Easy Debit Card will cost N.dollars 3.50 for swiping at any till points and it will be accessible in Namibia.

The Smart Debit Card will cost zero charges when swiping at any till points and it will be accessible in local and international places.

Riedel added that the Smart Debit Card can be used as an credit card to allow their clients to pay for goods and services based on the their promises to pay for them.

He stressed that both Smart Debit Card and Easy Debit Card have the same charges when withdrawing money from any commercial bank ATM with charges of N.dollars 8 for a withdrawal amount between N.dollars 10 to N.dollars 500 and N.dollars 20 for a withdrawal amount between N.dollars 1 500 and N.dollar 2000.

We want to offer clients the ability to choose the functionality that they require from their debit cards and thus the cost associated with their card of choice, Riedel said.

EBank is the branchless commercial bank which is accessible through Internet and cell phone technology.

Ebank which opened to the public on 01 November 2014, has about 35 staff members that includes the distribution team and mobile team .

The Bank of Namibia granted EBank a certificate of authorisation to establish a banking institution in Namibia, effective from 29 May 2014.

It offer a number of services such as buying electricity, airtime and viewing a mini-statement are also available via cell phone.

The EBank shareholding structure involves Pointbreak Group Namibia and South African banking solutions’ provider TYME (Take Your Money Everywhere), which own 42.44 per cent each.

The remaining 15.12 per cent is owned by Namibia First Lady Monica Geingos, the bank’s chairperson, and local businessman Martin Shipanga.

The board members are Geingos; Shipanga; Economic Advisor to President Hage Geingob, Dr John Steytler; Chairperson of the Law Reform and Development Commission Yvonne Dausab; TYME CEO Coenraad Jonker; and Riedel.