DTB discontinues Nakumatt cards - Daily Nation

DTB discontinues Nakumatt cards

Tuesday May 1 2018

Diamond Trust Bank chief executive officer Nasim Devji during the launch of the Nakumatt Global Prepaid card in 2013. file photo | nmg

Diamond Trust Bank chief executive officer Nasim Devji during the launch of the Nakumatt Global Prepaid card in 2013. file photo | nmg 

By DOREEN WAINAINAH
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Diamond Trust Bank (DTB) has suspended all transactions on Nakumatt Global cards, increasing the woes of the supermarket chain.

The bank, which has been the lead issuer of Nakumatt Global Prepaid cards since 2013, stated that it has halted all transactions carried out on point of sale machines, ATMs or online.

“DTB is no longer issuing Nakumatt Global Cards. Cardholders with expired/lost cards as well as new prepaid card applicants will be issued with a new multi-currency DTB prepaid card, which will soon be introduced into the market,” read a notice from the bank to its customers.

The bank indicated that customers will be informed on how to access their funds including the option of transferring to the new prepaid card to be launched at in a few weeks or over the counter.

This intensifies Nakumatt’s woes after several landlords evicted it from their properties.

The property owners say they developed their outlets on loans and are at risk of having them seized by banks following Nakumatt’s default in rent payment.