Zimpapers Logo

Zimbabwe.
Through this collaboration with MasterCard, FBC Bank customers will be issued with either a debit, credit or prepaid MasterCard card, that will ensure payment convenience and security for the cardholders.

FBC retail banking and e-commerce executive director Mr Agrippa Mugwagwa said the bank would convert existing customer’s propriety FBC bank cards into MasterCard.
“FBC Bank will be converting our existing customer’s proprietary FBC Bank cards into MasterCard branded debit, credit or prepaid cards.
“In addition, new customers will automatically be issued with a MasterCard card,” said Mr Mugwagwa.

He indicated that although MasterCard debit and credit cards have been issued in Zimbabwe in the past, this launch marks the first time that a prepaid MasterCard card will also be issued in the market.
Mr Mugwagwa said the prepaid cards, issued in US dollars, offer a much safer alternative to carrying cash while travelling and in addition to enjoying competitive exchange rates, travellers will not have to worry about exchanging foreign currency, therefore can better manage their spending when travelling abroad.

“As one of Zimbabwe’s most progressive and customer-centric banks, FBC Bank is making major strides in expanding the local issuance of payment cards as a viable alternative to cash and cheques.
“Our introduction of MasterCard cards is a further step in our ongoing efforts to bring the advantages of electronic payment services to Zimbabweans.

“If there is a country with a compelling reason to go totally electronic as soon as possible, it is Zimbabwe. We are using the US dollar currency, which we import at great cost, change is a nightmare, notes get soiled quickly and there is a high inherent risk of counterfeit notes,” he said.

The newly issued suite of MasterCard cards will enable the bank’s existing and new customers to purchase goods or services when travelling outside Zimbabwe, and obtain cash anywhere in the world where MasterCard cards are accepted. Cardholders will also be able to access their funds at over 1,5 million ATMs worldwide and pay for products and services at over 30 million locations and in 210 markets where

MasterCard cards are accepted globally.
MasterCard credit, debit and prepaid cards are also an ideal payment alternative to cash and cheques, as they offer an easy, convenient and safe way to pay for purchases and assure cardholders of quick and secure access to their money whenever their need it.

MasterCard Worldwide in Africa business development vice president Mr Jason Coetzee said the cards would enable cardholders to withdraw cash at any ATM and pay for purchases when travelling.
“The MasterCard cards will provide added benefits to cardholders over their existing FBC proprietary cards when travelling within Africa or overseas, as they will be able to withdraw cash at any ATM and pay for purchases wherever the MasterCard acceptance logo is displayed,” he said.

He indicated that growing the issuance of MasterCard cards throughout Africa is a primary focus and vision for the organisation
“MasterCard is excited to have collaborated with FBC Bank to bring MasterCard cards to its customers, and we hope that the benefits of this collaboration will encourage existing and new FBC Bank customers to embrace the safety, ease and convenience of secure card payments when travelling,” said Mr Coetzee.