Dawn of a new era – introducing the NuPay EMV NuCard
Embracing technology to provide the best solutions.
NuPay, a division of JSE-listed group Altron, recently launched its new NuPay EMV (Europay MasterCard Visa) NuCard. This is the next step in a journey that started 12 years ago.
At the time, the NuPay customer base consisted predominantly of micro-financiers who needed a solution to cash on hand. This sparked NuPay to develop a solution to combat the risk associated with holding cash on the premises, while providing both the merchant and consumer with a secure and convenient alternative. The result was a payment solution that allowed merchants to transfer a credit value to a consumer on a prepaid debit card that can be used at any ATM or point-of-sale (POS) terminal.
After 10 years of unbelievable success, the time was right to take the NuPay NuCard to the next level. Johan Dorfling, Business Support Manager at NuPay, says: “NuPay strives to be an innovative technology company. Technology is constantly evolving, therefore the decision to change from the traditional magstripe card to an EMV card was easy. In order to provide our customer base with the best possible solutions, we have to embrace changes in the industry and adapt our solutions to meet their needs.”
He also goes on to explain how the new NuPay EMV NuCard will provide cardholders with a more secure way of making payments: “The biggest benefit that the NuPay EMV NuCard offers is enhanced security features, making it safer to transact on any POS device or ATM. Because of the embedded chip technology, it makes it extremely difficult to clone the card. The chip usually implements some cryptographic algorithms and they are engineered to be tamper resistant.”
Some of the other benefits card users will enjoy include:
- Withdrawing money at any POS device, thus saving on bank costs.
- No transaction fees when transacting on any POS device.
- The new NuPay EMV NuCard also introduces a “Tap & Go” functionality (NFC – near field contact) giving you convenience at your fingertips. Cardholders no longer need to swipe their card to do a transaction, but can simply use a “Tap & Go” enabled device to make a purchase.
Dorfling says: “In addition to the new functionalities and security the NuPay EMV NuCard will provide to both merchants and consumers, it also opens a vast new network of places where the card can be used. A prime example of this is the online purchases cardholders will be able to make at their favourite online stores using the NuPay EMV NuCard. This functionality is in the final stages of development and will be introduced by the end of 2020.”
He concludes by saying: “The NuPay NuCard might be 10 years old, but the journey to provide our merchants and their customers with the best possible solutions is just beginning.”