TymeBank Launches Its First Credit Card As Part Of Its Expansion Plans
TymeBank Launches Its First Credit Card As Part Of Its Expansion Plans. South African digital bank TymeBank has announced the launch of its first credit card. This is part of the company’s expansion plans, it also mentioned that the credit card is in partnership with RCS.
TymeBank’s chief executive Tauriq Keraan told Business Tech that, “The card has been in the pipeline for some time, but we thought long and hard about timing, particularly given the challenging consumer environment. That said, a credit card is a secure, convenient method of payment that can add value to your budget and lifestyle, provided it is used responsibly,”
Its clients can use the credit card to withdraw money from any ATM (for a small fee) and shop everywhere, including online. They can also get up to 55 days interest free when their account is paid in full and on time every month. One qualifies for a TymeBank credit if they are over 18, a South African citizen and earn over R3 000 per month.
The bank is founded on simplicity, transparency, and affordability. It believes that every South African has the right to accessible and affordable banking, because it is a digital bank, the money it saves by not having branches – coupled with its partnership with Pick n Pay and Boxer retail stores, means that it can offer its clients a lot more at a lot less cost to them.
There is a TymeBank kiosk in most Pick n Pay and Boxer stores and clients can deposit and withdraw money at every Pick n Pay and Boxer till point. The company also believes that its banking app and online banking is ready for its client’s needs at anytime and it’s services like SendMoney for example, lets clients send money to someone else anywhere in South Africa, even if that person doesn’t have a bank account.
