Payment services group Crossgate Technologies, has launched its new card production facility in Cape Town. They will be producing chipped banking cards and smart cards using the EMV (Europay, Mastercard, and Visa) Standard for local banks and institutions.
“(Crossgate) will be provisioning cards to wearable and mobile devices on behalf of banks and fintech issuers. Three major local banks and two African banks that share Crossgate’s vision of taking South Africa and Africa’s banking into the future have already finalised agreements.
“Crossgate has also extended its offering to enable fintech innovation and Banking as a Service capability,”CrossGate
According to the Mastercard New Payments Index 2022, bank cards are still overwhelmingly favoured by South Africans consumers despite a host of tempting new payment methods including: cryptocurrency, digital cards and biometric payments.
To read the full article visit BusinessTech, “Big changes for bank cards coming to South Africa”.