BancABC Launches Co-Branded Cards To Enhance International Payment Systems

BancABC has launched co-branded Mastercard and Zimswitch payment cards to enhance international payment systems.

Speaking at the launch, BancABC chief executive officer (CEO) Lance Mambondiani said the bank was the pioneering provider of the service in Zimbabwe. Mambondiani added:

We are delighted to be the first to market with this solution. It is thanks to the collaborative partnership between Mastercard, a global financial services powerhouse and Zimswitch, our national switch. There has been a lot of work that has gone into launching this project from all the teams involved and my gratitude is to the teams that have worked tirelessly to deliver this innovation.

BancABC said it will be introducing several co-branded card innovations to suit different market segments, such as the ‘Home and Away’ card, which links to both local and foreign currency accounts.

The bank will also be introducing a combo card onto which up to four different currencies can be loaded.

The new BancABC cards will include EMV Chip and PIN technology providing cardholders with additional peace of mind while making them more difficult to counterfeit.

According to Charlton Goredema, Vice President of Country Business Development, Botswana and Zimbabwe at Mastercard, people are increasingly embracing digital payments – a trend that has accelerated due to the Covid-19 pandemic.

Cyril Nyatsanza, CEO of Zimswitch, added that the provision of convenient, innovative and secure payment solutions will contribute to and encourage positive market developments on multiple fronts.

More: NewsDay