Nouvobanq launches new Visa and UnionPay debit cards |03 May 2018
As from today May 3, Nouvobanq is starting the process of replacing the existing magnetic strip debit cards to the new ‘chip and PIN’ debit card and customers are invited to collect their new replacement cards from where they have opened their bank account.
This follows the official launch by the bank yesterday morning of its Visa Classic debit card and the UnionPay debit card.
The launch of the two cards is yet another milestone in the bank’s journey to bring a new banking product and solution to existing and potential customers.
The launch was carried out with a demonstration of a transaction using the UnionPay debit card by the Chinese ambassador to Seychelles, Yu Jin Song. The UnionPay debit card is the result of a partnership with UnionPay International (UPI) which is headquartered in China and is a global payment network which provides bank card services worldwide covering 168 countries and more than 1,800 institutions worldwide. The other card is in partnership with Visa.
The launch was in the presence of the Nouvobanq’s chief executive Ahmad Saeed, his deputy Michael Benstrong, the deputy governor of the Central Bank (CBS) Jennifer Sullivan, chairman of Nouvobanq board of directors Gafoor Yakub, other board members and staff.
Mr Yakub said compared to the current Visa electron card, both cards offer new features with added chip and pin security and added benefits to the ATM such as bill payments, accounts transfer and issue mini statements.
“The most appealing feature is that the debit card can be used both domestically and internationally,” he pointed out.
Commenting on the partnership with UnionPay, Mr Yakub said: ‘’It has decided to undertake the first of its kind partnership with Nouvobanq one of the largest and most profitable banks in Seychelles and we are really excited to have UPI on board as a strategic partner in bank card services”.
The management and staff of the two institutions have collaborated over the past several months leading up to the launch.
Mr Yakub said the UPI classic debit card will no doubt be the best travel companion as it will make the lives of business customers and other frequent travelers a lot easier.
He went on to point out that this partnership with UPI aims to provide Nouvobanq customers with greater mobility and extensive reach within the region and globally through the use of its high quality and secure cross-border payment services.
“Nouvobanq is proud to be the first local bank in Seychelles to launch the UPI card which offers various solutions to fit our customers’ financial and lifestyle needs,” Mr Yakub affirmed.
He has called on the management of the Nouvobanq to further boost the initiative by looking into the possibility to increase the number of self-service ATMs around the country and where possible put in place more branches if the right people can be recruited and retained. In order to ease bill payments fund transfer and printing of mini statements, Mr Yakub stressed on the need for ATM machines to be serviced and in good working condition at all times, noting that the bank is in the service industry thus the importance of service delivery and the people delivering the service as they are the human capital which make the bank stand out from the rest.
Ms Sullivan congratulated Nouvobanq for its contribution in the financial services in Seychelles as the country strives to modernise financial services being offered to a level on par with international norms and practices.
She highlighted and commended the Nouvobanq’s initiatives and efforts over the years to provide its customers with good level of services.
“The CBS is encouraged by this new development as it responds directly to our strategy on modernisation and innovation,” Ms Sullivan pointed out, noting that the new cards will provide more diversity and competition in the banking sector.