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Absa reshapes payments with virtual cards

New ideas: Mmoloki Modise demonstrating how the virtual card works at the recent launch of the Multi-Currency Prepaid Virtual Card
New ideas: Mmoloki Modise demonstrating how the virtual card works at the recent launch of the Multi-Currency Prepaid Virtual Card

The country’s second largest bank, Absa Bank Botswana, has introduced virtual cards which are digital versions of debit and credit cards that can be used on smartphones and smartwatches for contactless payments.

The cards are being hailed as the next step in fintech innovation and ease of access for banking customers.

Speaking at the launch on Tuesday, Godiraone Maokenyane, the bank’s Head of Strategy and Business Transformation explained the technology.

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