Amalgamated Banks of South Africa Ltd. is partnering with card-technology provider Oberthur Technologies to issue a prepaid card supported by MasterCard’s PayPass contactless service.
The card is the first issued in Africa with dual-interface payment technology that supports both contact and contactless smart card transactions, the South Africa-based issuer noted in a statement earlier this month.
Customers may use the card to pay at the point of sale and in South Africa’s new integrated transport system implemented by the National Department of Transport.
To use the card, customers first must load value into the prepaid account using cash or through a funds transfer from a bank account via a participating payment terminal, transit kiosk, Internet-banking service or ATM.
Card balances are limited to 1,500 rand (USD$210 or 150 euros), and cardholders may load no more than 3,000 rand into the card account per month. Cardholders may spend no more than 200 rand per transaction.
The issuer is piloting the card at select retail locations and plans to roll it out early 2011.
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