South Africa MasterCard

By: EconomyWatch   Date: 6 October 2010

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South Africa MasterCard is available in three as either a Standard, Gold or Platinum card, issued in partnership with the big four local banks.

MasterCard South Africa: Issuers

ABSA Bank Limited

Amalgamated Banks of South Africa Limited (ABSA) was a result of a merger between UBS Holdings and the Allied and Volkskas Groups, in 1991.

ABSA is a subsidiary of Barclays Bank PLC, which is a major global financial services provider with extensive international presence.

Nedbank Limited

Nedbank Group Limited is a bank holding company that operates as one of the four largest banking groups in South Africa through its principal banking subsidiaries. The company's ordinary shares have been listed on JSE Limited since 1969.

Standard Bank of South Africa Limited

Standard Bank of British South Africa was established in 1862. “British” was dropped from the name in 1883. In 1962, a subsidiary company was formed to carry out business in South Africa. The Standard Bank of South Africa Limited was listed on the JSE in 1970.

South Africa MasterCard: Types

Standard MasterCard

Some of its features include:

  • Free Internet banking

  • Free Secure Internet Shopping

  • Free Secondary cards

  • Free basic travel insurance

  • Interest-free credit for 55 days.

Gold MasterCard

Gold MasterCard offers even more purchasing power and benefits, including higher spending limits. Some of its special features include:

  • Balance Transfer Facility – to save on credit card debt held at another financial institution.

  • Credit Card Assurance – special low cost assurance policy in the event of death, disability or retrenchment/redundancy.

  • Extended Credit Facility – allows for bigger purchases to be repaid over a period of three to thirty six months

  • The chance to apply for additional cards for one’s family and/or partner.

  • Automatic Payment Order Facility – to pay off credit card debt every month.

Platinum MasterCard

Platinum MasterCard offers higher spending limits, plus all the benefits of the Gold and Standard Cards, to meet the exacting standards of the elite. It also offers special facilities, such as:

  • Purchase Cover – offers short term insurance protection against theft and specified causes of accidental damage for 90 days from the date of purchase.

  • Flexible repayment options – of as little as 7.5% of the outstanding balance of each month.

  • Free travel insurance when travel tickets are purchased with the Platinum credit card.

  • Access to Platinum Concierge Services, round the clock and around the world.

MasterCard credit cards provide flexible payment options, convenience and security for consumers around the world and are accepted at over 24 million locations worldwide.

‘Standard MasterCard,’ 'Gold MasterCard and ‘Platinum MasterCard’ are trademarks of MasterCard Worldwide, who can be found at www.mastercard.com


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