Nedbank Lesotho scores another first
. . . launches first corporate credit card
NEDBANK Lesotho this week launched a business credit card; the first of its kind in the country’s banking industry.
A credit card allows the cardholder to pay for goods and services based on the holder’s promise to pay for them.
Having introduced the first retail credit card in the country earlier this year which was well received by the market, Nedbank Lesotho is optimistic the business credit card will also enjoy the same kind of support.
The business credit card is encoded locally but has VISA approval that enables it to function internationally as well.
Nedbank Lesotho’s Managing Director PJ Bouwer said with the card, businesses no longer had to apply for a bank overdraft when they were cash-strapped.
“We always endeavour to bring new products and solutions to our clients. We introduced the first and only local retail credit card earlier this year, today we are proud to announce the same solution for business clients,” Mr Bouwer said.
“Cards are one of the most important transactional tools to manage your spending as a business, travel expenses, accommodation expenses and stationery purchases among other things.
“The benefit of business credit cards is they are simple and easy to use with online purchases and widely accepted worldwide.”
He said the card which comes with a new microchip security feature allows businesses the opportunity to keep track of all their business expenses and gives them 55-day free interest credit card purchases on condition they make a full settlement of the outstanding amount by the due date.
The card also gives automatic travel insurance for local and international travel to those who used it to purchase their travel tickets.
“We urge the corporate sector to contact us for further discussions on this brand new offering so we can offer them solutions for their businesses,” Mr Bouwer said.
Nedbank Lesotho’s Head of Sales Gary Long said businesses with approved financial statements, full “Know Your Customer” documents, and were credit worthy qualified for the business card.
He said the limit of credit approved for a business depended on individual business situations.