ZB unveils new Mastercard offerings to enhance digital payments
BUSINESS REPORTER
ZB Financial Holdings (ZBFH) has partnered with Mastercard to roll out a suite of digital services designed to provide faster, safer, and more convenient online payment solutions.
Through this strategic collaboration, ZB customers now have immediate access to a wide range of Mastercard Virtual Cards, which can be used for both local and international e-commerce transactions. The launch includes five card options, ushering in a new era of seamless digital experiences for ZB clients.
Speaking at the launch in the capital Harare on Thursday, ZB Bank Chief Executive Officer Elisha Chibvuri said the new products are designed to serve a broad demographic, including cross-border traders, students, and high-net-worth individuals.
“At ZBFH, our customers are at the heart of everything we do. We heard your call for more choice and flexibility, and we are thrilled to announce the launch of Mastercard international cards and payment services, complementing our existing VISA offerings,” said Chibvuri. “This expansion gives our 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.”
He added:
“But that is not all. We have also significantly upgraded our capabilities to acquire international Visa and Mastercard payments across all ZB ATMs, Point-of-Sale (POS) terminals, and e-commerce platforms. This ensures seamless transactions for global cardholders, boosting convenience and accessibility throughout our network.”
Among the new offerings is the Mastercard Prepaid Card, specifically tailored for the unbanked population, the informal sector, and youth, including university students. The card is also suited for network marketers and cross-border traders.
Currently, the prepaid card supports dual wallets in South African Rand (ZAR) and United States Dollars (USD), with a Zimbabwean Dollar (ZWG) wallet expected to be added soon. This multi-currency functionality provides customers with greater flexibility and convenience when managing different currencies.
Chibvuri noted that this is the first card in the local market with three-currency capabilities.
Another standout product is the Commercial Credit Card, designed to support corporate clients.
“This is currently the only such product in the market,” Chibvuri said. “It is targeted at our corporate customers to manage travel and allowances—specifically for organisations with mobile employees such as logistics and transport companies. It also appeals to businesses with travelling executives, offering convenience through features such as spending limits, real-time expense tracking, spend restrictions, electronic statement reconciliation, fraud management, and reduced paperwork.”
He also highlighted other benefits available under the new Mastercard offerings:
“Some of the benefits—but not exhaustive—include the Mastercard Prepaid Card, car rental discounts, and credit card perks with offers from both local and international merchants across travel, accommodation, education, and dining. Mastercard Debit Cards (Gold and Standard) come with additional benefits such as airport lounge access worldwide, car rental discounts, hotel and flight discounts, and concierge services for medical tourism,” said Chibvuri.
In addition, ZB has fully integrated Mastercard e-commerce capabilities into its Smile & Pay payment gateway. ZB’s Point-of-Sale (POS) devices are now enabled to process foreign-issued cards, allowing tourists and Zimbabweans in the diaspora to pay for goods and services with ease.
“Local customers with international cards can now also make payments via ZB POS devices,” Chibvuri said.
ZB has also enabled merchants to accept payments online through the Mastercard Payment Gateway, expanding the bank’s support for e-commerce across the country.
