By Fundi Maseko
Mukwandi Chibesakunda, CEO of NatSave (left) and Raghu Malhotra, President of Middle East and Africa at Mastercard.
The National Savings Bank (NatSave) and Mastercard have signed a strategic partnership agreement, which will see the bank rollout Mastercard Chip and PIN prepaid and debit cards to provide its customers with a safer and more convenient alternative to transacting with cash. This is in line with the government’s goal of creating an inclusive and modernized digital payments ecosystem in Zambia.
NatSave customers, who are currently limited to using their proprietary cards for withdrawing cash, will be switched to Mastercard’s prepaid and debit cards later this year. The new cards will feature the latest EMV Chip and PIN payment technology, providing customers with a convenient, globally accepted payment solution with the highest security protection.
The partnership supports Zambia’s National Financial Inclusion Strategy 2017 to 2022, which aims to increase financial inclusion from 59 per cent to 80 per cent.
“We are pleased to embark on a significant new strategic partnership and joint investment programme with Mastercard in our quest to make banking and payments more efficient, secure and convenient for our customers, while reducing their exposure to the safety risks and high transactional costs of handling cash,” Click here to read entire article
Source:: IT News Africa