Mastercard, Network International and NBS Bank Plc Partner to Accelerate Digital Payments Adoption in Malawi

March 30, 2022 | Malawi
  • NBS Bank plc in Malawi is the first bank in Middle East and Africa to incorporate Mastercard and Network International digital payments platform into their digital app
  • The partnership will deliver a seamless experience and drive greater adoption and utilization of digital payments for NBS Bank’s customers
  • This collaboration will underpin a new wave of financial inclusion through mobile devices, unlocking opportunities for people and businesses across Malawi

Mastercard and Network International today re-affirmed their shared commitment to drive the adoption of digital payments and support emerging markets’ transition to a cashless economy by announcing a strategic partnership with NBS Bank plc in Malawi. This will be the first implementation of an innovative digital payment’s platform launched by Mastercard and Network International last year.

NBS Bank will launch a Mastercard virtual (non-plastic, non-physical) payment solution that will enable its customers to make a wide range of e-commerce payments to merchants that accept Mastercard locally and internationally. For instance, virtual cardholders can pay for subscription streaming services, advertising on social media platforms, online shopping as well as travel and bills. It will also allow small business owners to purchase from international suppliers.

To pay for purchases using the virtual payment solution, NBS Bank customers will receive a 16-digit card number, security code, and expiry date, which they will use to complete an online purchase much like they would with a physical card. The payment solution also features multiple layers of security to ensure that the customer’s financial data is always secure and private.

Governments and NGOs across Africa are publicly supporting digital payments and less reliance on hard cash to secure the financial inclusion of more people. With the growth of the digital world, millions of people and businesses are gaining access to financial services and digital payments on their gadgets.

“As a caring bank and in line with NBS Bank’s philosophy of ‘taking banking to the people’, we are excited to partner with Mastercard and Network International to offer our customers enhanced payment capabilities that will enable them to make a wide range of payments all from the devices in their pockets,” says Kwanele Ngwenya, CEO of NBS Bank. “This partnership will also help to accelerate financial inclusion and empower the most vulnerable in society.”

According to Gabriel Swanepoel, Country Manager for Mastercard, Southern Africa, people and business are increasingly turning to digital and remote payments, a shift that has been accelerated by the COVID-19 pandemic.

“Utilizing the innovative capabilities of both Mastercard and Network International, we can support NBS Bank in their digital transformation efforts so that they can provide an enhanced payment experience to their customers. This in turn will enable more people and businesses to benefit from a growing digital economy and world beyond cash,” says Swanepoel.

Mastercard and Network International have a long-standing partnership, including Mastercard’s strategic investment in Network International and a shared commitment to develop innovative payment solutions that will grow electronic transactions across the MEA region.

”Our partnership with Mastercard is focused on rapidly growing electronic payment usage across our region, and this agreement with NBS Bank is a major step towards meeting that goal,” added Chris Wood, Regional Managing Director, Processing- Southern Africa and PALOPS, Network International. “We look forward to working with NBS Bank to accelerate the move from cash to digital solutions.


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. Visit Follow us on Twitter: @MastercardMEA and @MastercardNews


About Network International

Network International comprises a group of companies and is the leading enabler of digital commerce across the Middle East and Africa (MEA) region, providing a full suite of technology-enabled payments solutions to merchants and financial institutions of all types and sizes, including acquiring and processing services and a comprehensive ever-evolving range of value-added services.

Network International Holdings Plc (LSE: NETW) is the holding company for Network International and the group companies, including the DPO Group.

About NBS Bank

NBS Bank, a subsidiary of NICO Holdings, is a fully fledged commercial bank providing a wide range of financial services to individuals, small and medium businesses, large corporations and public institutions.

The Bank has 26 Service Centres strategically located across the country. In addition, the Bank offers one of the widest network of ATM’s, very innovative Mobile, Agency and SMS banking services to give customers additional service delivery platforms.

The mission of the Bank is to provide financial solutions that will make a difference in the lives of its various stakeholders including its employees and customers. NBS Bank is also passionate about supporting national initiatives that help to grow and improve the economy.