CRDB Bank and MasterCard International launch new card
A new card has been launched by the CRDB Bank and MasterCard International in Tanzania.The TemboCard MasterCard debit card will give customers of the financial institution the ability to withdraw cash or pay for goods and services in other countries, the Citizen reports.
Dr Charles Kimei, Managing Director of CRDB, explained the development is likely to benefit those with business connections in North America.
This is because it is the destination where MasterCard has the strongest presence.
He also explained that users will only have access to money in their bank accounts using the card, meaning they will not get into any debt or accumulate interest.
Daniel Monehin, Area Head of MasterCard International, added: "TemboCard MasterCard is a fully Tanzanian card. It is a payment card that could be used in every channel across the world."
According to the CRDB Bank, the TemboCard offers extra security due to the fact it can only be used electronically.