NamPost and Standard Bank sign banking agreement

19 Apr 2017 13:20pm
WINDHOEK, 19 APR (NAMPA) – NamPost and Standard Bank Namibia on Tuesday signed a sponsorship banking relationship agreement which will enable clients of the post office to use banking services at reduced costs.
The online transactional banking platform will enable NamPost card holders to do SWIFT transactions; electronic fund transfers; use card services and to access point of sale devices.
“It is our government’s vision that all Namibians, without exception, should have access to the correct type of financial services and products at an affordable price offered through a wide network of service points,” NamPost Chief Executive Officer, Festus Hangula said during the signing of the agreement.
Speaking at the same occasion, Standard Bank’s Head of Personal and Business Banking, Mercia Geises said they were selected as the preferred sponsor bank to NamPost after a procurement process which started in 2016.
As the sponsoring bank, Standard Bank will ensure that all payments and transactions by customers will be settled between the banks at the central clearing system in Namibia through the bank's membership to the National Payment System.
“We are proud to partner with NamPost to provide its clients with access to a world class banking platform in an innovative and efficient manner, which results in financial inclusion for all,” said Geises.
Hangula noted that NamPost also plans to introduce its revamped SmartCard to the market in the second half of this year.