20Twenty customers are unable to use their credit cards until conditions of use are ironed out between Saambou, the curator and MasterCard.
20Twenty CEO Christo Davel has told 20one cardholders that the go-ahead from MasterCard to use the credit cards is still outstanding and that a further delay could be expected.
"For various MasterCard-induced reasons, we can`t yet flick the switch that`ll enable you to use your 20one card at till points, or your card number online (although you can use it at ATMs). It appears that operating while under curatorship is more complicated than originally thought and from MasterCard`s side, the process is going to take a little longer than anticipated," reads the 20Twenty Web site.
Meanwhile, MasterCard says it is waiting for the necessary security and risk requirements to be met by Saambou, which owns the 20one cards.
Anthony West, VP of member relations for MasterCard Southern Africa, says: "Saambou cardholders are seriously inconvenienced by issues involving curatorship. Saambou is in discussions with MasterCard to resolve these as soon as possible."
MasterCard acts as the facilitator or go-between for issuing and acquiring banks in credit card purchases and as such guarantees the transactions for members in good standing.
20Twenty previously announced that its cardholders would be able to resume normal use of their cards last week.
"We`d told you that this functionality would be enabled by MasterCard by now, and I apologise if we raised your expectations - the delay has been a surprise for us too. In future, we`ll only tell you what`s happening as and when it happens; that way we avoid this kind of situation happening again," said Davel.
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