Republic Bank unveils Ghana’s first ever credit card for businesses
Republic Bank Ghana has made a remarkable entry into the local credit card industry with the launch of a credit card specifically for businesses in the country.
The novel Republic Bank Visa Business Credit Card, is meant for employers, organizations, entrepreneurs, MSMEs and persons authorized to make reimbursable expenditures.
According to Farid Antar, Managing Director for Republic Bank Ghana, the Visa Business Credit Card makes upto GHS 200,000 credit available to businesses with an interest free period of 45 days.
Aside this, the Visa Business Credit Card provides efficient and time saving solutions to businesses, it provides easy means of paying for expenses both locally and internationally, and is an easy means to tracking expenses and undertaking reconciliation.
Along with the launch of the novel business credit card was the launch of three (3) other credit cards which are the Republic Bank Visa Infinite, Republic Bank Visa Classic and Republic Bank Visa Adeshie.
Together, the four credit cards form the Republic Bank’s “Fantastic Four.”
With the launch of the Fantastic Four, Republic Bank stands ready to lead the credit card business in Ghana.
Speaking at the launch of the Fantastic Four was Board Chairman of Republic Bank Ghana, Charles Zwennes, who averred Republic Bank’s entry into the credit card space is a plus to the bank and indicates that Republic Bank is living up to its standard as an international bank in Ghana.
Asserting the credit cards will do well on the market, Mr Zwennes noted the bank will strive to remove transactional uncertainty in the use of the cards, providing 99.99% uptime in card transactions.
“To lead the credit card industry in Ghana, we are taking on the challenge to remove transactional uncertainty, we are striving to reach 99.99% uptime, this is our promise,” Mr Zwennes stated.
Also speaking at the launch, was Head of Banking Supervision at the Bank of Ghana (BoG), Osei Gyasi, who advised Republic Bank to build robust digital infrastructure to deal with credit card fraud and also forestall other cyber crime related activities.
The Fantastic Four credit cards offered by Republic Bank feature a revolving credit facility with a three year tenor and interest rate charged on outstanding balance is 3%.
Amounts credited to businesses can be repaid via the RepublicMobile App, Standing Orders, internet banking or at any Republic Bank branch nationwide.
