If you bank with Standard Bank or the Absa Group you will soon be able to use ATM cards for purchases at a variety of merchants nationwide.
The banks this week announced the launch of the Maestro debit card, in partnership with MasterCard International.
If you are an existing client, you will be able to use your current ATM card to buy goods and pay for services at outlets displaying the Maestro logo.
When the bank renews your card, you will be issued with a card displaying the Maestro logo.
When you go overseas, you will be able to use your card at Maestro merchants, subject to exchange control approval.
The Maestro debit card is a leading online point-of-sale debit card with more financial institutions, merchants, cards and acceptance locations in more countries than any other online debit programme.
It was launched in 1992 and is currently accepted for purchases at over 1,7 million merchant terminals in more than 60 countries on six continents.
The card operates through a PIN number and practically eliminates the need to carry cash. When you use it, your account is debited immediately and you cannot overspend on it.
It is, for all intents and purposes, one of the first international point-of-sale payment options available to the South African mass market.
* Absa and Standard Bank have also announced the purchasing of the Mondex electronic cash franchise rights for South Africa, Lesotho, Swaziland and Namibia.
Mondex is considered the most "cash like" of the various electronic cash smartcards currently on the market.
It allows person-to-person transfers of electronic cash and enables cardholders to carry up to five different currencies on one card at the same time.
The Mondex franchises will enable the banks to commercially develop Mondex electronic cash for people in these countries.
The Maestro debit card and the Mondex cash card enable you to carry cards instead of cash or cheques.
Eugene Smith, operating executive of Absa Group's card and electronic banking division, says he believes these cards will enable customers to benefit from improved levels of service, convenience and security.
Peter Abbott, assistant general manager of Standard Bank's card division, says the bank will start to introduce debit card facilities at merchants throughout South Africa early next year.