Eunice Hilda Ampomah, GNA
Accra, Oct. 9, GNA
– Nii Odartey Lamptey, the Head of Card and Payment Solution, Stanbic Bank, has
said the Bank has outlined strategies to educate the public on usage of credit
card to rub out the misperceptions about it.
He said people
misconceived that using a credit card, kept one in debt forever, and explained
that, once a person paid his debt, he or she was eligible to use the credit
A credit card is a
payment card issued to users (cardholders) to enable them to pay a merchant for
goods and services with an assurance by the cardholder to pay back the issuer
of the card, which could be a bank, with an agreed amount of charge.
Mr Lamptey said
this on Wednesday when the Bank launched its “Visa Credit Card” in Accra to
offer customers more convenient and secured mode of payment and doing business.
He said doing more
electronic and digital payment had a lot of advantages for the public and the
state at large, hence, the need for the Bank to promote it.
Users of the Bank’s
credit card, he said, would among many benefits get an interest-free payment
period for 25 days, purchase products and services online, and be protected
He said the
introduction of the credit card was as a result of insights the Bank got from
customers with regard to what they wanted the card for and the features they
wanted it to have, saying, it was introduced basically to satisfy customer
Any individual, 18
years and above with a monthly net salary of GH₵3,000.00 and above is eligible
to obtain a credit card, he explained.
“Victims of card
fraud should contact the bank immediately to block the card, for investigations
to follow and possibly get the victim’s funds for him or her,” he advised.
Madam Adoma Peprah,
the Country Manager for Visa Ghana, said it was necessary to invent and
reinvent visa credit card especially in Africa to serve the public, hence, why
Visa Ghana partnered Stanbic to introduce the card.
She said visa
credit card was the most trusted mode of payment across the globe because a
person’s bank could make payments on behalf of the cardholder, whenever it
With regards to how
secured a credit card was, she disclosed that, the Bank, which recorded about
65,000 visa transaction every second, monitored all of them digitally to
protect customers from fraud.