Bank launches Yuan pre-paid Visa card

11Oct 2018
The Guardian Reporter
Dar es Salaam
The Guardian
Bank launches Yuan pre-paid Visa card

BancABC Tanzania, which is part of Atlas Mara, a London listed entity, has yet again made another innovative step ahead of the market by introducing a new pre-paid Visa card – in Chinese currency. The Bank currently has Visa pre- paid cards in 5 currencies which are USD, TZS, GBP, EURO and ZAR.

Speaking yesterday in Dar es Salaam during the launch of YUAN pre-paid Visa card, BancABC head of digital and alternative channels, Silas Matoi said China being one of the leading destinations visited by entrepreneurs and students from Tanzania, we saw the need to introduce Yuan pre- paid Visa Card that is a visa card in Chinese currency.

The Yuan Card is a reloadable card which allows users to get exact value in Chinese currency deposited into their card and hence doing away with the uncertainty that exchange rates come with for entrepreneurs and students in demand of Yuan in China or whichever part of the world they are in.

He further guaranteed that the card comes with high level security cause of its CHIP and PIN feature, a proven technology that is already in use all around the world providing increased protection against any fraud. This Yuan card also comes with a free instant sms notification service keeping the owner informed on every transaction or purchase done through online or POS which are also free.

“The YUAN Visa Cash Card is an affordable and reloadable pre-paid card enabling a customer to manage their funds reasonable and conveniently. The card also has zero monthly charges making it very cost effective for our customers. Parents with children studying in China, can simply just deposit money in their child’s Yuan card and the cash will instantly reflect in the child’s card. There is no need to own a bank account to own a Visa pre – paid card,” said Matoi.

According to the official, BancABC Tanzania was awarded a trophy by Visa in 2016 as being the leader in e -commerce transactions, a position we have held up to date.

“This has been made possible through our unique pre-paid visa cards that work perfectly well with a strong proposition that drives usage. We promise to continue offering quality and excellent service to our customers,” he said.

“There is no need to worry about where the YUAN pre-paid visa card can be used as it is accessible 24/7 over 2.7 million VISA branded ATM's worldwide, Over 46 million VISA Merchants retail outlets worldwide, over 400 Visa branded ATM's in Tanzania and  1000 VISA merchant outlets in Tanzania.”

Speaking at the same occasion, the banks head of retail and commercial banking, Joyce Malai said: "Launching YUAN pre-paid Visa card is another milestone the bank has taken in order to continue maintaining convenient and most affordable solutions. YUAN pre-paid visa card does not only save our customer’s time but also controls ones spending as one can only spend what you have on the card.”

Malai said that due to quality and improved services that BancABC has been offering, the bank was named at the Banker Africa, East Africa Awards in 2017 as the Best Emerging Bank – East Africa. "It has been our objective for the bank to continue winning more awards through introducing relevant and innovative solutions to our customers, said Malai.



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