EBank launches own debit card

EBank Chief Operating Officer Gerald Riedel demonstrating how to link a debit card to your a smartphone.(Photograph by Amerie Bennett).

EBank which has been in operation for ten months on Tuesday this week, launched their own branded MasterCard debit cards.

“The introduction of MasterCard debit cards is an essential part of the our network expansion strategy and a critical step in making our services and offerings ubiquitous and accessible to all. EBank clients now have the choice of using their cellphone to transact at the till of any of our growing number of retail partners, or alternatively using their MasterCards to pay for goods and services at any point of sale device” said EBank Chief Executive Officer, Mike Mukete.
“Although EBank does not have an ATM network of its own, a unique feature of the EBank MasterCard is that our clients can withdraw money at any ATM of the four major banks at the same fee. Our clients can therefore avoid long queues as they can withdraw money at the ATM with the fewest people in the line”, added Mukete
An EBank Smart Account holder can link up to two cards to their account, which can either be an Easy or Smart Debit Card or one of each, however an EBank Easy Account holder can only link one EBank easy Debit Card to his or her account.
Once linked and activated, EBank Smart Debit Card holders are not charged for point of sale purchases within Namibia, while EBank Easy Debit Card holders will pay N$3.50 per card transaction at any retailer nationwide.
The cards offer a unique ATM transaction pricing structure that does not determine fees based on the ATM used.
“Both EBank debit cards can be used to withdraw cash from any ATM in Namibia with the cost per transaction varying from N$8 (for a withdrawal amount between N$10 and N$500) to N$20 (for a withdrawal amount between N$1,500 and N$2,000). This is considerably less that what some banks charge their own clients, said EBank Chief Operating Officer Gerald Riedel.
“As EBank enables its customers to benefit from MasterCard’s global payments network, we are assisting Namibia to integrate its economy with those elsewhere in the world. Importantly we are also contributing to the financial freedom of individuals”, noted MasterCard’s Vice President and Area Business Head for Southern Africa and Indian Ocean Islands, Charlton Goredema.
He said that the increased number of MasterCards means that thousands more citizens and merchants will be introduced to the safety, security and convenience of electronic payments while enjoying protection from the risks of and costs associated with cash.
The EBank debit cards are EMV compliant, with Chip and PIN.