daily menu » rate the banner | guess the city | one on oneforums map | privacy policy (aug.2, 2013) | DMCA policy | flipboard magazine

Go Back   SkyscraperCity > Continental Forums > Africa > Southern Africa > South Africa > Economy, Infrastructure and Transportation > Business, Economy and Services



Reply

 
Thread Tools
Old May 17th, 2012, 01:35 PM   #1
dysan1
More development
 
dysan1's Avatar
 
Join Date: Dec 2004
Location: Durban, Singapore
Posts: 16,975
Likes (Received): 213

MUVO Card Launch

Standard Bank issues dual-function transit-ticketing and debit card

South Africa's Standard Bank has issued a multifunction payments card, offering pre-paid transit ticketing alongside contactless debit card functionality.

The dual-function Muvo card will be used initially by 1000 commuters to load tickets for bus travel in Durban city centre. Users will load credits onto their Muvo card at kiosks, and then tap the card against a card reader upon boarding a bus in order to pay for their ride.

The pilot phase will be followed by a roll-out to the rest of the 55 0000 commuters throughout the eThekwini Municipality region.

The card features MasterCard's PayPass application and an MChip 4 data chip for regular in-store payments.

Herman Singh, chief executive officer of Standard Bank's innovation unit Beyond Payments, says: "The Muvo card is a world first, and showcases a transit ticket sitting inside a banking chip - secured with bank strength security - along with a payment wallet."

He sees the introduction of contactless card-based applications as a stepping stone to fully-fledged NFC-based mobile shopping.

"It is inevitable that we will all be using our phones to pay at merchants in the future," says Singh. "However it's important to recognise that this is a journey and not a destination - there will be no big bang launch, but eventually we will see all individuals routinely paying with phones at all merchants on the high street."

http://www.finextra.com/news/fullsto...wsitemid=23729
__________________
Have your own opinion
dysan1 no está en línea   Reply With Quote

Sponsored Links
 


Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT +2. The time now is 05:42 PM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
Feedback Buttons provided by Advanced Post Thanks / Like v3.2.5 (Pro) - vBulletin Mods & Addons Copyright © 2014 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2014 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu