Postbank is conducting a large-scale replacement of millions of South African Social Security Agency (Sassa) gold cards with new black cards, citing security concerns.
Over a million cards have been replaced in the past six months, despite logistical challenges.
Postbank CEO Nikki Mbengashe, during a media briefing, attributed the transition to the need to combat fraud and enhance security for grant recipients.
The transition from Sassa gold cards to Postbank black cards was necessary to prevent fraud and ensure greater security for social grant beneficiaries,
Sassa spokesperson Paseka Letsatsi confirmed rising fraud incidents prompted the replacement.
This Gold Sasa card must be changed to a black Postbank card because the security features of this gold Sassa card are highly, highly compromised,
He highlighted the compromise of gold card security features, placing vulnerable beneficiaries at risk.
Recent arrests of Sassa workers for alleged card fraud underscore the urgency.
The new Postbank black cards possess enhanced security features and comply with updated EMV (Europay, Mastercard and Visa) standards, a mandatory banking requirement.
Postbank spokesperson Bongani Diako emphasised the cards provide "a more secure and efficient method for receiving grants.
