Online Reporter
Michael Tome
ZB Financial Holdings (ZBFH), in partnership with Mastercard, yesterday launched international cards and payment services, expanding its existing payment offerings beyond its current VISA products.
This expansion gives ZB clients wider acceptance, enhanced flexibility and access to a world of exclusive Mastercard benefits, including global discounts and travel perks through platforms like Booking.com and Priceless.com.
With the introduction of Mastercard’s international cards and payment services, ZB clients can now enjoy wider acceptance and enhanced flexibility in their transactions.
The range of Mastercard products offered by ZBFH caters for different client needs and segments of the market, including the Mastercard Prepaid Card, Mastercard Debit Card, Gold Debit Card, Private World Banking Debit Card, and Commercial Credit Card.
Each of these cards is designed with distinct features and benefits, enabling clients to select the one that aligns with their lifestyle and financial needs.
Introduction of these cards facilitates smooth transactions for global cardholders, enhancing convenience and accessibility across our network.
Notably, the Mastercard Prepaid Card is specifically designed for the unbanked, informal sector, and youth, including university students.
This card features three wallets in different currencies, starting with the US dollar, followed by the Rand, and finally the Zimbabwe Gold (ZiG) currency, which provides users with flexibility and ease in managing their finances.
Another innovative product launched by ZBFH is the Commercial Credit Card, designed for corporate customers to efficiently manage travel and allowances.
This card is particularly beneficial for organisations with mobile employees, such as logistics and transport companies, providing a streamlined solution for business expenses.
Speaking at the five Mastercard products launch event, ZBFH Group Chief Executive Officer Mr Shepherd Fungura said the Mastercard suite introduced a cutting-edge, secure, and globally integrated platform to the market, offering a seamless payment experience.
“Our partnership with Mastercard is a bold statement of intent. It reflects our aligned vision of excellence to lead in shaping the modern, inclusive, digital-driven financial ecosystems, even here in Zimbabwe. In an era where convenience, speed, and security are non-negotiables.
“The Mastercard suite brings to the market a seamless, secure, globally connected platform that redefines our individuals. SMEs and even big corporations can transact locally and internationally, whether it is for e-commerce purposes, for travel, or for everyday purchases that one may want to do, the solution is available to meet all those needs,” said Mr Fungura.
In his remarks during the launch event, Mastercard Vice-President of Southern Africa, Mr Jabu Basopo, said the launch would go a long way in alleviating challenges faced by SMEs by providing a convenient and efficient way to manage business expenses.
“Customers are looking for speed, simplicity, safety, security, and all those are embedded in all services we are launching today. We are launching five products, but I would like to focus more on the corporate product, because for me, when I look at that, SMEs are some of the segments that we probably do not elevate as much.
“But the corporate product, obviously, looking at this market, is going to address the SME. We have a huge SME segment that is probably not looked at. And obviously, this is giving an opportunity to do that,” said Mr Basopo.
ZBFH chief executive, banking cluster, Mr Elisha Chibvuri, said the cards provide access to global markets, catering to a wide range of users, including business professionals, entrepreneurs, and individuals alike.
“Mastercard’s suite offering is your passport to convenience and financial confidence anytime and anywhere and everywhere. These Mastercards are a gateway to the global markets around us, and it is for everybody, including businesspeople, entrepreneurs, individuals, and all those who are excluded from financial markets in the greater scheme of things. It is also a gateway that includes online transactions, especially payments that can be done by everybody,” said Mr Chibvuri.
ZBFH executive head of digital banking, Mrs Hope Marere, said the bank had concurrently launched International acquiring, a process of accepting payments from customers in different countries, typically through credit or debit card transactions.
This service enables businesses to expand their reach and accept payments globally, facilitating international trade and commerce.
“Today, we have also launched what we call international acquiring. This is the use of POS devices owned by ZBFH by the global world, so that as tourists are coming into Zimbabwe, they will be able to swipe their cards on our POS devices.
“We are also launching an e-commerce payment gateway through MasterCard. As you all know, the world is going e-commerce, so we are also seeing that as an opportunity for Zimbabweans locally and abroad,” said Mrs Marere.
Londile Moyo