Housing Finance MD Sam Waweru (left), Group chairman Steve Mainda
(centre), and Group MD Frank M Ireri during an AGM. FILE PHOTO
Summary
- HFC customers will now be able to access over 36.9 million POS terminals in over 210 countries and territories.
- The launch of the Mastercard will ensure that our customers have access to safe, convenient and seamless transactions.
- In April 2013 banks decided to abandon magnetic cards, which were prone to fraudulent transactions in favour of EMV card
Housing Finance Company (HFC) the mortgage lending and banking subsidiary of HF Group, has partnered
with payment solutions firm MasterCard to issue debit cards as part of
the bank’s strategy to grow its retail banking market share.
HFC customers will now be able to access over 36.9 million point-of-sale (POS) terminals in over 210 countries and territories.
“The
launch of the Mastercard will ensure that our customers have access to
safe, convenient and seamless transactions in Kenya and around the
world,” HFC managing director Sam Waweru said yesterday.
The
cards have seen HFC comply with new security standards developed by
Europay, MasterCard, and Visa (EMV) including use of chip and PINs.
The Mastercard debit card will be directly linked to both HFC’s current and savings accounts.
In April 2013 banks decided to abandon magnetic cards, which were prone to fraudulent transactions in favour of EMV cards.
The lenders switched over in three phases – ATMs, POS and cards.
Mr Waweru said they are now leveraging on the new
banking system they implemented last year to roll out additional retail
and corporate products
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