World leading electronic payment network VISA, has reported a 21 per cent growth of its payments volumes across the sub Saharan Africa for the year 2010.
The increase in the transaction volume followed a successful year for VISA terms extending its debit business in the region.
This is according to a statement by VISA and made available to ZNBC News in Lusaka on Monday.
VISA said the payment volume in Zambia grew on its debit cards by 34 per cent.
VISA believes that access to secure electronic payments through products such as debit cards is a vital first step towards financial inclusion and economic growth.
ZNBC
Here we go. With something new and great you also need educated minds and revolutionaries to provide security and product explanation, in all local languages.
Duh! VISA will say that were the smell money, guess what they show up.
Mwanawkwitu, what exactly are you trying to say?
Good afternoon @ no 3 Nubian princess, I am at work with a new boss that’s got her eyes on me. Liked it at first but now feel bizarre cause a woman is proposing, don’t cry sexual harassment though she is professional about it lol.
What I was trying to type is that these are great signs of Zambia’s dynamically growing economic seasons, but I feel for the millions of Zambians that need some entity to educate them on monetary related enviroments and organizations. Debit is actually good, but with debit the heavy weight cousin CREDIT card follows closely. So before our relatives dig themselves holes of financial woes I am hoping someone provides them with financial educational tools; to help merge and control this wonderful modern but tricky tool called VISA debit.
Is that not evidence if any is needed of the growing prosperity in Zambia under the leadership of H.E.R.B? Seems like people already have more money in the pockets and in their bank accounts.
Growth in Zed beating sub saharan african average by more than 50%, great!
Great care should be taken by card users.These companies often use murky language designed so as not to understand the rates,terms and conditions of the card.If there’s growing prosperity in zambia this is not it.This is a worrying growth since we are here celebrating growing indebtedness.It will also inevitably lead to electronic fraud.
@ 5 Nchimunya, Mwanawasa initiated what we have today period. Tell me this, who is the only Zambian president to appoint an opposition MP to a ministerial position? That shall tell you Zambia’s best president todate?
@
Enka Rasha, nice to know that we are on the same page. Remember it’s all in the fine print.
#8 I think you will find that Mwanawasa has been dead since 2008. LPM achieved a lot but we can not attribute anything positive that is happening in our country to a man who has been dead for more than two years. In fact when RB assumed power, he was faced with a global financial crisis and it is through his leadership that we as a country have been able to weather the storm and continue the path of growth that the country is currently enjoying.
#7 you know about credit cards, but have you ever heard of an animal called debit card? in Zambia there arent many of the former its the latter that the banks will give you.
@ #9 Thanks mwanawkwitu,i’d hate to see our people taken advantage of the way they do it here.
#11 Beng-i know about that animal as i’ve got one.Debit cards are more vulnerable to electronic fraud than credit cards because of lower protection.With credit there’s smaller amounts you’re liable for,in debit it could be the entire transaction.
Use of debit is usually not limited to existing funds therefore causing overdraft fees and many merchants may “take” money owed from a customers acc when presented a card for a different transaction.
These are the issues i worry about with debit cards in zed so there’s cold comfort that zed has mainly debit cards.
A debit card (VISA\MASTERCARD) draws money from your savings account or whatever transaction account that you have.If there’s no money in that account,nothing will be debited,meaning the card will be declined,it cant even go into overdraft unless you have an overdraft arrangement with your bank.Basically a Debit card will only allow you to use it the same way you use a credit card,only difference is that you are using your own money,unlike a credit card.In most cases you are only charged an international transaction fee if you are using that Debit card in a different country from which it was issued
#10 Chimunya
What exactly did RB do to avert the Global economic crisis and which part of Zambia’s economy was crippled by this global crisis? Countries that were badly affected by the crisis like America,companies like FORD and some Banks were bailed out, what exactly did our president do
thank goodness it’s DEBIT CARD and not CREDIT CARD