Fin24

Facebook debit cards for SA

2012-08-22 15:30

Cape Town - The world's first Facebook branded Visa debit card is set to be launched in South Africa, a report says.

The card is made by the creators of social network banking application, ZunguZ.

ZunguZ is an application that enables users to connect their online banking details to Facebook to transfer money by simply clicking on the recipient's image, ITWeb Africa reported.

To send money using the card, users would have to enter their bank details and to receive money recipients would need to signup to the application.

It is hoped that the branded card will boost Visa's market share in SA.


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Comments
  • richard.mackenzie.9469 - 2012-08-22 15:09

    Sounds like another arrow in the quiver for potential fraudsters.

  • ludlowdj - 2012-08-22 15:17

    Don't you people give Facebook to much information as it is??

  • norman.depluhm - 2012-08-22 15:45

    Agreeing with the two first comments, and to ad that the SA consumer cannot really afford any more credit cards...

      lydonmcg - 2012-08-22 15:49

      The world's first Facebook branded DEBIT card...

  • robertsussman8 - 2012-08-22 16:50

    Remember that it is a debit card, so hugely attractive for the unbanked market in Mexico, Middle East and Africa, as well as the teen market who dont have access to banking services. The beauty with ZunguZ and one of its differentiators from just banking on Facebook is that Facebook never get access or see your banking information. The card is also not linked at all to your bank account! A patent pending algorithm does social fraud screening over the intelligence layer on the card that unlocks its social function that will be announced soon.........

  • zip.reeper - 2012-08-23 07:30

    if you have enough money, why bother to put it into a debit card instead of a credit card? huge hole in the story - again!

  • Klaas Kabini - 2015-01-23 18:24

    Bad idea i have ever seen.

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