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Tanzania’s FNB turns to Visa and mobile banking

The First National Bank of Tanzania (FNB) will be launching its Visa Electronic debit card and mobile banking service this week, the group said in a statement during the weekend

The card is designed to ensure that the bank's clients can enjoy convenient and accessible banking solutions both locally and internationally. Travelling customers will no longer scramble to arrange foreign currency on the eve of their departure but would be able to use the Visa Electronic debit cards at ATMs and point of sale devices worldwide, the bank said.

"The launch of Visa Electronic debit will be coupled with the opening up of our ATMs for all Visa cards. Our new debit cards will also be used at Visa ATMs and Point of Sale (POS) devices in the country and across the globe where the Visa logo is displayed," the FNB chief executive officer Richard Hudson told Tanzanian newspaper The Citizen Correspondent in Dar es Salaam.

However, the cellphone banking product is currently in a test cycle and will be available to all customers within the next three months and will ensure that with the mobile phone in hand customers will be able to access money and make payment on the go, Hudson said.

FNB of Tanzania, a subsidiary of South African financial services provider First Rand Group, commenced operations in the eastern African country in July 2011.


By Our South Africa Correspondent

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