ZICB Launches Suite of Mastercard Digital Solutions To Boost Business Growth in Zambia

November 5, 2019 | Lusaka, Zambia

Zambia Industrial Commercial Bank Limited (ZICB) today announced a partnership with global payments technology company Mastercard to issue Mastercard prepaid and debit business cards, providing its business customers with a safer and more convenient alternative to transacting with cash.

This is the first time a Zambian bank will issue Mastercard business cards, which enable companies to streamline their purchasing processes, set spending limits and track expenditure when employees travel. Featuring the latest EMV contactless payment technology, the cards will also provide ZICB customers with a convenient, globally accepted payment solution with the highest security protection.

ZICB’s Chief Executive Officer, Ignatius Mwanza says: “We are excited to partner with Mastercard as we implement our agenda to become a leading digital bank that contributes to Zambia’s economic development. Driving the growth of our SME and corporate customers through innovative and convenient payment solutions such as these is how we create a better tomorrow for Zambia.”

The debit and prepaid cards are designed with accessibility in mind, offering safer, faster and more efficient ways for people and businesses to manage their finances, while reducing their exposure to the safety risks and high transactional costs of handling cash.

ZICB customers will be able to withdraw money from Mastercard-licensed ATMs and pay for goods and services at millions of merchants both in Zambia and in more than 210 countries and territories worldwide.

“Zambia is an important market for Mastercard and we are pleased to partner with ZICB to bring new solutions that will help businesses and entrepreneurs better manage their finances,” says Mark Elliott, division president of Mastercard, Southern Africa.  “These products will help to solve pain points for businesses of all sizes and industries – whether it’s a farmer needing to pay for supplies more expediently, a government agency seeking to manage social payments more efficiently or a large corporate trying to better track their employees travel and entertainment expenditure across several countries.”

To apply for ZICB Mastercard business card, customers can visit their nearest branch.

About ZICB

Zambia Industrial Commercial Bank Limited (ZICB) was incorporated on the 31st of August 2017. The Bank was created with a vision to foster economic development with a focus on industrialisation and commercialisation. ZICB has been positioned to grow into a major player in the Zambian banking sector and is currently growing its capabilities through implementation of a modern Core Banking System on the back of which it is set to provide robust products and services in line with current banking technology, including Digital Banking services. ZICB currently has 2 branches – one in Lusaka and the other in Kitwe. The Bank has plans to spread to other areas of the country in due course.

About Mastercard (NYSE: MA)

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

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