Globally adopted payment standards reduces fraud and boosts security for Zimbabwean cardholders

Harare, Zimbabwe – Metbank announced at an event held in Harare, that it has collaborated with global payments technology company MasterCard, to introduce Zimbabwe’s first EMV certified debit cards.

Metbank will introduce Gold and Standard MasterCard Debit Cards to its customers as well as the MasterCard Business Debit Card that will respond to the needs of corporate customers.

The debit cards will include EMV technology making them more difficult to counterfeit, leading to a reduction in fraud. The use of a personal identification number (PIN) at the time of purchase will further provide peace of mind to cardholders.

 

The introduction of EMV certified MasterCard Debit Cards, a global payment standard, comes at an appropriate time as the country’s government highlights the need for Zimbabwe’s banking system to be more inclusive and in line with global trends.

MasterCard has led EMV deployment in more than 130 countries, working closely with governments, central banks and financial institutions to introduce safer, easier and more convenient ways to transact.

“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.

“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,” added Charlton Goredema, Area Business Head, Southern Africa, MasterCard. “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.”

Source: http://newsroom.mastercard.com/mea/press-releases/metbank-and-mastercard-launch-zimbabwes-first-emv-payment-cards/