Scotiabank offers new Mastercard debit to customers

As local financial institutions continue to increase their digital transformation agenda, scotiabank is upgrading its current Visa debit service with the issue of a new Mastercard debit card solution to customers.

The bank said that the move seeks to offer customers with greater card security including chip and pin technologies useful in combating skimming.

“It [the new Mastercard] is more customer-friendly and customers can now utilise its contactless ‘Tap and Go ‘ feature.

“This significantly increases the speed of payments at the point of sale (POS) terminal and reduces contact with keypads and other surfaces — an added benefit amid the ongoing health crisis,” the bank said in responding to questions from the Jamaica Observer.

“The new cards are being mailed out to all customers and the existing Visa debit cards will continue working as usual until customer activates the new Mastercard debit,” Scotiabank further told the Business Observer while noting the bank’s continued relationship with Visa.

“This change does not impact our relationship with Visa as we are still business partners having several other card products with them,” the bank stated.

With the issuing of these new cards, Scotiabank is hoping to provide customers with a safer and more diverse banking and payment solutions especially in light of the challenges associated with the ongoing novel coronavirus pandemic. The new card will also offer added purchasing and ATM protection.

The bank, which recently indicated its intention to close two of its branches and convert six others to operate digitally by early next year, is well invested in deepening its customer experience and service offerings.

“We will be adding value to customers and improving the customer experience,” said Audrey Tugwell-henry, vice-president with responsibility for retail banking, who is also scheduled to take over the post of president and chief executive officer (CEO) from David Noel at the start of next year, during a quarterly briefing held by the bank last week.