Africa-Press – Zimbabwe. ZB FINANCIAL Holdings (ZBFH) chief executive officer for the banking cluster, Elisha Chibvuri, says the launch of its new line of Mastercard products will help improve access to global transactions for individuals and businesses.
The launch, done last week, marks a strategic partnership between ZBFH and Mastercard aimed at enhancing financial inclusion, digital banking and international payment capability.
The initiative introduces five different card products designed for various market segments, including students, informal traders, SMEs and corporate executives.
These include a multi-currency prepaid card, a mass debit card, gold and private banking debit cards and a commercial credit card, the first of its kind in the local market.
The development also sees foreign Mastercard and Visa cards being accepted across the bank group’s automated teller machines, point of sale (POS) terminals and e-commerce platforms, including through Smile & Pay, a payment gateway integrated with Mastercard’s system.
“This launch reflects the convergence between physical and digital banking,” Chibvuri told NewsDay Business in an interview.
“We now have solutions that speak to every segment, from a student to a world-travelling executive, and it positions us to support cross-border trade, travel and e-commerce with secure, flexible products.”
The Mastercard prepaid card is targeted at the unbanked, youth, informal traders and network marketers.
It offers dual wallets for US dollars and South African rands. A Zimbabwe Gold wallet will be added at a later stage.
Meanwhile, the commercial credit card enables organisations, particularly in logistics and transport, to centrally manage staff travel expenses with real-time tracking, spending limits and improved reconciliation features.
ZBFH digital banking executive head Hope Marere said the partnership also opened up the international acquiring space, allowing tourists and diasporas to transact seamlessly in Zimbabwe.
“Our POS machines now accept international cards, and our Mastercard e-commerce payment gateway allows Zimbabwean merchants to participate fully in global online trade,” she said.
Beyond payments, the cards come with exclusive Mastercard perks such as airport lounge access, hotel discounts, flight deals, and offers from global platforms like Booking.com and Priceless.com.
The Mastercard launch is part of the group’s broader digital transformation strategy to strengthen customer convenience, support formalisation in the informal sector and drive innovation in banking services.
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