IDEMIA and TymeBank are working together to meet the demand for contactless payment solutions in South Africa. The two companies noted that interest in contactless technologies has gone up since the start of the COVID-19 pandemic, with 75 percent of South Africans citing hygiene as a factor for turning to contactless payments. Eighty-nine percent of the population as a whole has expressed a preference for contactless options since the onset of the virus.
With that in mind, TymeBank and IDEMIA are trying to put more contactless payment cards in the hands of South African civilians. TymeBank is the country’s first digital bank, and has already onboarded 2.5 million customers since debuting in February of 2019. The bank distributes debit cards through self-service kiosks that let customers open an account using a national ID number for identity verification. The kiosks themselves are located in Pick ’n Pay and Boxer stores all over the country, and issue a card once the onboarding process is complete.
The cards, meanwhile, are IDEMIA EMV cards with contactless capabilities. They allow people to complete transactions without entering a PIN or otherwise touching a shared device.
“We equip our customers with a contactless EMV bank card that delivers a safe payment experience in a secure and convenient manner,” said TymeBank Head of Sales and Service Cheslyn Jacobs. “This is true to our ethos of ensuring that banking is made accessible to everyone in South Africa.”
“IDEMIA has a proven track record of working with banking customers in both physical and digital spaces,” added IDEMIA MEA SVP Julia Schoonenberg. “We are proud to support TymeBank in their mission to enhance convenience and security for people in South Africa.”
IDEMIA and TymeBank are also hoping that the card distribution will help combat fraud, which surged in South Africa as scammers rushed to take advantage of COVID-19. In addition to TymeBank, IDEMIA provides card solutions for multiple financial institutions in South Africa, and has recently been promoting eco-friendly cards made of metal or recycled PVC materials.