TymeBank, South Africa’s fastest growing digital bank, has launched its credit card as it seeks to cater to different financial needs and life stages.
“The launch of the TymeBank credit card is an important step in our growth phase and is in line with our intention to diversify our customer profile by attracting more customers from middle and upper middle income groups,” said the CEO of TymeBank, Tauriq Keraan.
“The card has been in the works for some time, but we thought long and hard about the timing, especially given the challenging consumer environment. That said, a credit card is a secure and convenient form of payment that can add the value to your budget and lifestyle, provided it is used responsibly.
The TymeBank Visa credit card, offered in partnership with registered credit provider RCS, is internationally recognized. A tap-and-go credit card, it can be used to make online and point-of-sale purchases, both locally and internationally.
TymeBank also offers a Buy Now Pay Later (BNPL) offer called MoreTyme, which allows eligible customers to purchase a retail product by paying only 50% of the purchase price upfront, with the balance settled over a period of time. 30 or 60 days, without paying interest or fees.
To qualify for a TymeBank credit card, applicants must be 18 or older, employed, and earning R3000 or more per month. They must also have a valid South African identity card or driver’s license and a South African bank account.
Cardholders earn Pick n Pay Smart Shopper points when they use the card anywhere, while using the card at Pick n Pay stores doubles their Smart Shopper earning. Customers who register before April 30, 2022 will earn up to four times as many Smart Shopper points until that date, when paying at Pick n Pay.
TymeBank provided the following information on features and benefits:
- Free SMS notifications for added security
- Free delivery of the first card by courier
- Cardholders can get up to three additional cards for family members
- Up to 55 days of interest-free credit if the total amount due is paid on time each month.
Customers can apply online at the link of TymeBank website, https://apply.tymecard.co.za or through the free TymeBank app, which can be downloaded from Google Play, Huawei Gallery or iOS App Stores.