New debit cards planned to make life easy for NCSL customers

Business

By CLARISSA MOI
Nasfund Savings and Loans Society (NCSL) is expecting to receive its debit cards by February next year in line with its vision to become a one-stop-shop bank by 2020.
General manager Vari Lahui told the FM 100 talkback show in Port Moresby yesterday that currently, all the funds that they processed for their members were paid into commercial bank accounts.
“When we have our debit card offering, the debit card will be linked to our transaction account and there will no longer be the need for us to transfer funds to commercial bank accounts,” he said.
“We will retain all those funds and our members can access those funds using their debit cards.
“That’s a big change we will have in the new year when the debit card initiative is rolled out.”
Lahui said with its current membership base of just under 117,000, around 70 per cent to 80 per cent of those members were active.
“Those are the ones we would like to give debit cards to,” he said.
“In fact, we have a card that is already designed and it’s currently sitting with the card supplier.
“They are just going to do little bit of work on it. We expect to receive the cards by next February, the latest, and we will start issuing cards to our members.”

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