Read time: 3 minutes

Metbank launches Zimbabwe’s ‘first EMV debit card’

By , ITWeb
Africa , 31 Jul 2013

Metbank launches Zimbabwe’s ‘first EMV debit card’

Zimbabwe’s Metropolitan Bank (Metbank) says it has collaborated with global payments technology company MasterCard, to launch the country’s ‘first’ EMV certified debit cards.

EMV -- which stands for Europay, MasterCard and Visa -- is a global standard to ensure the security and global interoperability of chip based payment cards.

And Metbank says it plans to introduce its EMV ‘Gold’ and ‘Standard’ MasterCard debit cards to its customers in the country.

Metbank adds the the EMV technology could also make the cards more difficult to counterfeit.

MasterCard, meanwhile, says it has led EMV deployment in more than 130 countries, working with governments, central banks and financial institutions.

"The opportunity to partner with a global brand is not taken for granted. We appreciate the partnership and have already learnt a great deal from it. Cardholders will enjoy the convenience and freedom that comes with a product that is both portable, flexible, secure and can be used internationally," said Belmont Ndebele, managing director, Metbank.

Charlton Goredema, area business head, Southern Africa, MasterCard added: "We have a shared vision with the Zimbabwean government, to create a world beyond cash and MasterCard is committed to introducing innovation to the country's payment industry."

"Formal banking products such as the recently introduced MasterCard Debit Cards will assist in making it possible for all Zimbabweans to enjoy the benefits of electronic payments, thus creating a more financially inclusive country and continent," Goredema added.

Read more
Daily newsletter
Number of the day
Quote of the day
"This collaboration underscores our vision to democratise access to payments and drive financial inclusion across the globe. We’re not just envisioning the future of payments - we’re actively building it.”