South African customers of Nedbank will soon have the ability to free and unfreeze their cards through the banks’ Money App.
On Wednesday, Nedbank announced that it has added a Freeze/Unfreeze feature on its Money App. This will provide its customers with the ability to temporarily stop their cards.
The bank said in a statement that the Freeze function disables all chip transactions, ATM withdrawals and online purchases on the selected card. However, it is not a permanent transactional block and, as such, does not require the client to apply for a new card.
It added that it is a temporary transaction disablement feature, which the cardholder can later instantly reverse via the Unfreeze option, thereby reinstating full functionality on the same card.
“Many of our clients reported situations in which they had misplaced or lost their bank cards and had to block them – usually by having to phone a call centre – and reapply for new ones only to find them shortly afterwards. This led us to recognise the need for a digital functionality that allowed for temporary card disablement,” Ciko Thomas, group managing executive for Retail and Business Banking at Nedbank said.
“If the card is definitely lost, they have the ability to block and reorder a new card immediately and choose to collect or have them delivered, by simply using the Nedbank Money App.”
Furthermore, Nedbank’s customers can look forward to a new Nedbank Pay Me feature, which will allow them to request for a payment from another Nedbank client via sms, without the need to have their banking details.
The bank is also planning to introduce a converged Scan To Pay feature that can be used to scan Masterpass, SnapScan and Zapper QR codes at the point of payment, at any merchant that displays a QR code at the point of payment.
It can also be used to pay utility bills, restaurant bills and online merchants that display a QR code at the point of payment, dispensing with the need to have multiple Apps.