TymeBank has teamed up with IDEMIA, the global leader in Augmented Identity to deliver a safe and frictionless banking experience to its over 2.5 million customers.
TymeBank and IDEMIA are working together to provide customers with dual interface chip cards (EMV) in a secure and convenient manner.
The EMV card, which facilities secure transactions at Point-of-Sale (POS), also supports a safe and contactless payment experience for the consumer. This way of transacting is set to become more important with the upcoming holiday season, as an increasing number of consumers choose to do contactless payments.
TymeBank debit cards are issued at self-service kiosks, which are stationed at Pick ’n Payii and Boxeriii stores around the country. A TymeBank customer can open an account and collect the bank card at their convenience after successfully verifying their identity with a valid South African ID number. The verification process is a key step towards fighting identity fraud, which since the start of the pandemic has resulted in an estimated cost to the South African economy of over R 1 billion3.
