Commercial banks affiliated to the Mozambican Association of Banks (AMB) are in the process of introducing new ‘contactless’ technology for credit cards and point-of-sale (POS) terminals, as well as renewing ATMs [automated teller machines].
The initiative aims to provide greater security to electronic transactions and offer users modern and innovative technology in the Mozambican financial system.
“This significant step involves the introduction of contactless technology in bank cards and payment terminals (POS), as well as the renewal of ATM machines and the inclusion of new functionalities in the mobile account and in the mobile channel,” an AMB statement that AIM had access to reads.
Due to the fact that the process is creating challenges for users of banking services throughout the country, due to the slowness in service and long queues, AMB calls on society, in general, to be attentive to the communiqués issued by the association.
“To this effect, we encourage customers to be attentive to the communications made by their banks, in order to collect their new, contactless credit cards at the respective branches,” the note reads.
This initiative involves a very considerable volume of credit cards and is being carried out throughout the country, at no additional cost to customers.
During this process, some limitations may temporarily be registered in the services provided by banks. However, the most common operations are already available and other services will be gradually reintroduced.
According to the AMB, POS terminals are also being updated for the acceptance of contactless payments for national or foreign credit cards.
“This process is being guided in order to guarantee that there are no changes in the level of costs for customers, including traders who use these POS terminals,” the document says.
Regarding the account services, AMB says that it will soon be updated with the introduction of new features to make the service more universal and inclusive. The details of this update will be communicated by partner banks to users of these services in due course.