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Debit card usage grows in SA

Johannesburg - Debit card usage in the Mzansi market has increased, Postbank said on Wednesday.

"The convenience and relatively low cost of debit cards, compared to other payment methods, makes this method of payment a very attractive option for the Mzansi market," said Postbank's Enoch Malisa, general manager business development.

At the end of July, debit card usage among Postbank customers showed a steady increase and to date, a total of 2 224,155 Postbank debit cards have been issued to customers to replace ordinary ATM cards.

"This points to a growing level of sophistication among the South African public," said Malisa.

He added that debit cards were a viable choice for the Mzansi market because they offered a greater level of safety, eliminating the risk of theft that goes with carrying cash.

"Debit cards also lower the risk of cash robbery for a retailer, and more retailers in outlying areas are now offering a debit card facility," Malisa said.

In addition, debit cards are easy to use and can be used internationally.

"This is an important point for the many Postbank customers who have ties in neighbouring countries."

Malisa said Postbank had noticed that many customers who had acquired debit cards "gained a huge amount of self-esteem when they progressed from keeping their money under the mattress to having their own bank account with the latest technology".

Postbank is a savings institution which operates as a division of the SA Post Office.

- Sapa

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