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

Harare, ZimbabweMetbank 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.”

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About Metbank
Origins: Founded in 1999, Metbank has steadily grown into a strong bank with a unique brand personality, respected for its commitment to providing customer-driven services.Metbank, is a commercial bank, with branch representation in all 10 provinces of Zimbabwe.

Products and services: The bank provides consumers, small business enterprises, corporate institutions and public sector enterprises with a broad range of financial products and services, including consumer banking, credit, corporate banking, international banking and trade finance; treasury and investment banking services.

Delivery channels: Metbank serves its customers through nation-wide network of 22 retail branches, a growing presence in ATMs, internet banking and mobile banking solutions, in line with the bank’s focus on effective use of technology driven and value-added transactional banking.

Our competencies: Metbank has particular competences in the arrangement of international lines of credit for its corporate and institutional customers. Our bouquet of retail and wholesale banking products includes: personal accounts, investment, card services, lease finance, personal loans, and mortgage finance.

Our philosophy: Premised on our over-arching “balanced growth” philosophy, Metbank’s strategy for the future is to generate long-term profitability and growth, guided by best practice in risk management and responsible banking. Our focus is on value-added services for personal and business customers.

Banking the unbanked: For nearly a decade and a half, Metbank has systematically positioned itself as a financial and ideas partner to small and medium size enterprises(SMEs). The Metbank team is motivated by the contribution that the bank continues to make in bringing the unbanked sectors of the economy into the mainstream banking sector, with full access to an array of relevant banking services.

Our people: Metbank prides itself in its people – well trained, experienced, eager to learn, and obsessed with the desire to serve. We have banking specialists across our national branch network who possess an in-depth understanding of the unique needs and cultures of the communities that they serve. Metbank seeks to deliver service excellence derived from a strong human capital base.

Shareholders: The major shareholder in Metbank is Loita Capital Partners International Limited, an investment banking firm with operations in 8 African countries, including Kenya, Mauritius and South Africa, that in July 2007, acquired a 60% stake in Metbank; marking the beginning of a relationship that has yielded immense value for the bank and its customers in the areas of offshore credit facilities, letters of credit and structured finance. Other major shareholders in Metbank include local pension funds, corporate and institutional investors.

About MasterCard
MasterCard(NYSE: MA),www.mastercard.com,MasterCard (NYSE: MA), is a technology company in the global payments industry.  It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard is committed to extending financial inclusion across Africa, through partnerships with all stakeholders.  With five regional offices on the continent, MasterCard is able to introduce innovation with the aim of developing a world beyond cash. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.

Media Contacts
Sami Lahoud, vice president communications, MasterCard Middle East and Africa – mobile: +971 56 216 9273 sami_lahoud@mastercard.com