Ned­bank scores an­other first

. . .launches cor­po­rate credit card

Lesotho Times - - Business - Bereng Mpaki

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.

Ned­bank Le­sotho Md PJ bouwer holds the busi­ness credit card.

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