By Moses Adongo
Equity Bank Ltd has launched a new Visa card to leverage in enhanced customer experience thereby increasing their share in the non-cash payments. The new development will encourage the lender’s customers to pay for their bills seamlessly and in a secure manner at any Visa-branded outlet.
Rather than carry hard cash or run to the ATMs all the time to make withdrawals, the customers will swipe the Equity Bank Visa cards at fuel stations, retails, restaurants, hospitals, beauty shops and everywhere else when they need to foot bills.
To ensure enhanced security, the new Visa card comes with the chip and pin functionality and facilitates both online and offline payments. Further, the card allows customers to make as many transactions as possible without incurring any cost for the process.
The lender is convinced that the innovation will reliably deal with gaps in security and privacy, raised with the old card.
The bank has already partnered with PayPal to enhance secure online transfer of money, developed EazzyPay app for mobile banking and now the innovation of a new Visa card has shown its commitment to simplify banking and payment services to the benefit of their customers.
The growing tech-savvy population has shifted to using mobile money for transactions especially since the birth of e-commerce business in the country. This has been caused by the nature of its privacy, security, and reliability. Consumers find it secure to make payments for goods without the fear of a third party getting to know the kind of business he was involved.
Despite the substantial interest customers have for mobile money mode of payments, banks and other players have clutched on cards to offer alternatives for the existing payment gaps. However, few have been able to sort out the concern consumers have with security and privacy. Players in the banking sector have often innovated to hold onto their share in the online payment business.
