NCB readies Visa debit card for roll-out

NCB readies Visa debit card for roll-out

BY KELLARAY MILES
Business reporter
milesk@jamaicaobserver.com

Wednesday, August 05, 2020

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Come September, National Commercial Bank (NCB) will undertake the first phase in its distribution of the much-anticipated Visa debit card for customers.

“We understand that our customers really want to enjoy the flexibility and rewards of our Visa debit card, so we are very excited to begin the first phase of distribution. This product has been a long time coming for us and we wanted to ensure the card was fully secure with Tap-and-Go and chip & PIN technology, “shared Claudette Rodriquez, head of payments services at NCB while responding to questions from the Business Observer.

Rodriquez said that while the cards are already being distributed to staff and customers doing private banking, a more widespread distribution to general customers is expected to get underway next month.

“We have to observe the Government's social distancing protocol so we will roll-out to the general customer base alphabetically. We will share this schedule with our customers in ongoing communications and via our website www.jncb.com/visadebit, which will be launched next week,” she said.

Rodriquez said that with these new cards, which will replace the antiquated Midas cards, customers are expected to benefit from a more technologically programmed and secure card that will offer them opportunities to secure rewards, transact business online, and gain access to more Visa-direct services, adding that “with this feature, friends and family overseas may send money directly to a Visa debit cardholder's account, similarly to a remittance service. however, the customer receives funds within 30 minutes, which is free of charge to the receiver.”

tap-and-go technology [contactless], which allows customers to tap their card for touch-free purchases currently up to $5,000 or US$50. This will allow limited contact with the POS machines while the customer retains the card in their hands. You can also shop online and use delivery apps to minimise your errands with this widely accepted card,” the payment services head disclosed.

Rodriquez told the Business Observer that the timing for the roll-out was also in alignment with the banking sector's overall push towards digital transformation, thereby allowing for improved customer satisfaction via additional purchasing options and enhanced security, which will be provided with the “chip and PIN” and “tap and go” technologies.

“The NCB Visa debit card is for everyone. All customers who currently have a Midas card will be able to change their Midas for a Visa debit, and new customers will automatically get a Visa debit card once they open a savings or chequing account. The Visa debit card for business customers will be rolled out later this year.

“One of our major objectives with the launch of this product is to update our customers' data when they collect their new card — this will allow us to provide transaction alerts for added security,” she said.

Customers are advised to pick up their new cards from respective branches on presenting the following documents and information where necessary: Midas card [for existing customers); a valid photo identification (ID) [Government -issued, employer or school ID where applicable); TRN card (when Jamaican driver's licence is not being used as an ID) along with an updated phone number and email address.

“New customers and current customers that are no longer know your customer (KYC) compliant will be required to provide additional information or complete additional documents [including] two references, proof of address, completion of reign Account Tax Compliance Act (FATCA) forms and other agreements,” the banking official informed.


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