Absa has launched a new bank card aimed at young graduates, known as Potentiate, which provides one-off PIN codes for online shopping and cash-free purchases at retail outlets.
An innovation in the South African banking sector, the new Absa Potentiate bank card is a Mastercard Titanium card boasting a number of new features. Of particular note, the card encompasses a button and an LCD display screen in the top corner of the card, which when pressed provides a one-off PIN code for the individual transaction, thus giving an added level of payment security when making online purchases.
Furthermore, the card features Tap-and-Go technology which allows users to touch the card to a payment terminal at participating retail stores, as such enabling users to make small-value cash-free payments via the new technology.
The card allows users access to connected cheque, savings and credit accounts.
The new Potentiate package is available to those who are over 18 years of age, and who have at least a three year degree, diploma, or advanced certificate, as the company attempts to attract the up and coming highly educated young professionals of South Africa who have a strong buying power.
In an added marketing push, Absa has also included a range of “Titanium benefits” to the Potentiate account package, which gives subscribers access to exclusive events such as concerts and shows. The account package is also linked to technology promotions, and users will be offered special deals regarding the latest tech devices and gadgets.
In this vein, the banking group has introduced a related offer whereby subscribers can also sign up for an Apple iPad to be paid off over a period at prices from 232 rand ($26) a month, or can be bought for a 15 percent discount on the retail price in the introductory period of the Potentiate package- up until 27th April.