Belarusian Banks Implementing Mass-Scale Innovations On Payment Cards
- 27.12.2023, 8:41
What changes should clients prepare for?
Banks are innovating with cards. For example, Belarusbank will have a commission for issuing a “Barkhat” card, and MTBank, together with the Kufar platform, launched a new “plastic”, reports zerkalo.io.
Belarusbank will introduce changes to “Barkhat” cards from January 22, 2024. One of the innovations is the introduction of a service fee. “So, when issuing “Barkhat” cards for current accounts in Internet banking, the service fee will be 12 rubles, when registering at a bank institution for current and basic accounts as a second and subsequent card — 17 rubles,” the bank reports. “Barkhat” cards will be issued for accounts with basic service conditions as the only main card without charging a fee.” Currently, card issuance is free.
Also, some bonuses for “Barkhat” cards will be cancelled. For example, they will remove the 50% discount for the commission on deposit safes that can be taken for temporary use.
From January 3, Belarusbank clients who have an old version of the “Magnit” card in their hands will not be able to extend their validity period, reissue them if lost, or make a duplicate. It will be necessary to produce new “plastic”.
From December 29, VTB Bank cancels the automatic extension of the validity period of premium cards with annual maintenance. Their owners will be able to reissue the card for a new term free of charge.
“Holders of other cards with expiration dates after February 2022 can continue to use them without reissue,” the bank clarifies. “Any banking operations in the country are available with cards — transactions in stores, ATMs and online bank services. To automatically extend the validity period, the card must remain valid with funds flowing for the last six months and without suspension of transactions.”
Priorbank announced that clients can issue a free “Belkart” card in Belarusian rubles for a period of 5 years through the Prior Online mobile application. “Pay with the “Belkart” virtual card of Priorbank for online and offline purchases in Belarus and foreign countries where the “Belkart” and “Mir” payment systems operate.” By linking your card to the Belkart Pay contactless payment service, you can easily pay with your smartphone,” the financial institution reports.
From December 14, Priorbank clients can issue a free virtual Mastercard for 5 years in Belarusian rubles or euros in the Prior Online mobile application.
Technobank has new partners for the Healthy Lifestyle card.
From December 20, Sber Bank introduced an innovation in the “Buy foreign currency at a profit” service. Thus, clients were given the opportunity to buy currency using their own funds using overdraft cards.
Also, from January 21, Sber Bank intends to make changes to the general conditions for servicing current accounts for which a payment card has been issued. We are talking about an innovation in crediting money to an account in a currency that differs from the account currency. The financial institution is also going to make clarifications on activating the function of contactless card payments.
MTBank, Visa and the Kufar platform have launched a card that gives bonuses for payments between individuals. This “plastic” is called “Kufar Card”. “For payments using the Kufar Card, the owner is assigned bonuses: 1% for payments in grocery stores and gas stations, 2% for all other transactions, except for ERIP. Also, Kufar users will be able to receive a 2% bonus for paying for goods from individuals,” the financial institution reports.
Belgazprombank announced that from January 1 it will change the conditions for visiting airport business lounges under the Lounge Key program for holders of premium Mastercard Black Edition and World Elite Mastercard cards.
BTA Bank and Belkart launched the Sphere Belkart loyalty program on December 18. “For any purchases and payment transactions made with a BTA Bank card through the Belkart Pay application, users will be awarded points (1 ruble equals 1 point),” the financial institution clarifies. “Accumulated points can be exchanged for bonuses or special offers from program partners.”
Starting from December 26, RRB-Bank updated the collection of tariffs for transactions with bank payment cards for individual clients.
Alfa Bank introduced changes to the Smart Black and Smart Black Family service packages from December 21. Thus, the opportunity to issue Visa Smart Signature cards in dollars has been opened for clients.