TymeBank, South Africa’s fastest-growing digital bank, has launched its credit card, as it seeks to cater for different financial needs and life stages.
“The launch of the TymeBank credit card is a significant step in our growth phase and is in line with our intent to diversify our customer profile by attracting more customers from the middle and upper middle-income groups,” says TymeBank CEO Tauriq Keraan.
“The card has been in the pipeline for some time, but we thought long and hard about timing, particularly given the challenging consumer environment. That said, a credit card is a secure, convenient method of payment that can add 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 recognised. 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) offering called MoreTyme, which allows qualifying customers to buy a retail product by paying only 50% of the purchase price upfront, with the balance settled over a 30-day or 60-day period, without paying interest or fees.
To qualify for a TymeBank credit card, applicants must be 18 years or older, employed and earn R3000 or more per month. They also need to have a valid South African ID or driver’s licence 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 earn. Customers who sign up before 30 April 2022 will earn up to four times Smart Shopper points until that date, when they pay at Pick n Pay.
TymeBank provided the following information on features and benefits :
- Free SMS notifications for extra security
- Free delivery of the first card via courier
- Cardholders can get up to three additional cards for family members
- Up to 55 days interest-free credit if the full amount owed is paid on time every month.
Customers can apply online on the TymeBank website link, https://apply.tymecard.co.za or via the free TymeBank app, which can be downloaded on the Google Play, Huawei Gallery, or iOS App stores.