The Postbank confirmed More than one million South African Social Security Agency (Sassa) gold cards have been replaced in the last six months despite several challenges. The reason behind card replacements has finally been revealed.
During a media briefing, Postbank CEO Nikki Mbengashe said 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 says rising instances of fraud prompted the replacement of Sassa gold cards. Last week, three Sassa workers were arrested in Johannesburg for alleged Sassa grant card fraud.
Letsatsi says the security features of Sassa gold cards are compromised which places millions of vulnerable social grant beneficiaries at risk.
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.
Currently, Sassa distributes over 18 million permanent grant payments, including the Older Persons pension grant, Disability grant, War Veterans grant, Care Dependency grant, Foster Child grant, Child Support grant, Child Support grant Top-Up and Grant-in-aid.
Grant beneficiaries rely on these grants to purchase basic goods and services monthly to survive. Being a victim of fraud has disastrous consequences for beneficiaries.
It is EMV-compliant with the updated EMV (Europay, Mastercard and Visa) standards which is a standard compliance required from all banks to replace cards after a certain period.
Postbank spokesperson Bongani Diako said new Sassa cards have enhanced security features and are compliant with updated banking standards, providing a more secure and efficient method for receiving grants.
