Business Day Spotlight
PODCAST | Crossgate bets on new Cape Town card facility
Mudiwa Gavaza is joined by David de Coning, CEO of Crossgate Technologies
The manufacturing and programming of banking and loyalty card is the focus of this edition of Business Day Spotlight. Host Mudiwa Gavaza is joined by David de Coning, CEO of Crossgate Technologies.
Crossgate, a unit of fintech group Crossfin, is betting its new R25m bank card manufacturing facility will help it to better compete against international rivals.
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The company recently opened its EMV card personalisation facility in Cape Town, the first 100% South African owned entity of its kind locally. EMV refers to the global standard used by Visa, Mastercard and other payment schemes to ensure that chip-based payment cards, which store and encrypt sensitive cardholder information on a microprocessor chip, can work among various platforms.
De Coning explains what the new facility will mean for the country and its financial institutions; how the company is looking to change ways in which consumers obtain, replace and activate bank cards; and Crossgate’s future plans for provisioning cards on behalf of banks.