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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.

Editor's Comment
Don't let FMD outbreak drag on

Acting Agriculture Minister, Edwin Dikoloti, is right in saying opening an export-ready facility whilst Foot and Mouth Disease (FMD) is still spreading would risk getting the whole country blacklisted before a single carcass leaves the door.A ban like that would break the already stressed nation. So, the postponement, painful as it is, is the right thing to do. The local economy is being squeezed from both ends. FMD has already slammed the door...

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