Namibia: Petrol Card Phases Out End of February

17 February 2014

Windhoek — In less than two weeks the official phasing out of petrol cards will take place in Namibia. "We wish to remind our customers that they no longer will be able to use their Standard Bank Petrol Cards as from the end of this month," warned Deborah Henckert Standard Bank Namibia's Manager for Unsecured Lending, Credit Card Issuing & Market Development.

According to Bank of Namibia's Determination on the Conduct of Card Transactions within the National Payment System (PSD-4), all financial institutions will not be allowed to accept petrol cards as legal tender in future. This means, as from February 28 Standard Bank customers will not be able to use their petrol cards for fuel purchases, spare parts or repairs. In view of this, Standard Bank Namibia has informed customers that they have the option to pay cash or use their Standard Bank credit/debit cards or fleet card when fueling up or having a car serviced.

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