03 September 2014

FBC Bank introduces pre-paid MasterCard card for Zimbabwean accountants

21 February 2013  |  1618 views  |  0 Source: FBC Bank

FBC Bank Limited announced that they are introducing the MasterCard Prepaid card to members of the Zimbabwean Association of Chartered Certified Accountants (ACCA).

The FBC-ACCA MasterCard Prepaid card will provide Zimbabwean accounting professionals with the ability to transact safer, easier and more conveniently, by introducing an innovative electronic payment solution, thus removing the need for cash.

ACCA members do not require a bank account to apply for the prepaid card, and will be able to pay tuition and exam fees, monitor their balances, track spending and download statements via the FBC Bank online portal. Additionally, members will be able to use their cards at any of the 33 million global merchants that accept MasterCard and at 1.3 million MasterCard branded ATMs located around the world.

"The prepaid card will see us working together with MasterCard to develop a more financially inclusive Zimbabwe, by introducing electronic payments to members of the ACCA community. The FBC-ACCA MasterCard Prepaid card will allow us the opportunity to positively impact the lives of ACCA members by introducing a payment solution specifically designed to fulfill their needs," said Mr. Agrippa G.R Mugwagwa, Executive Director - Retail Banking and e-Commerce, FBC Bank Limited.

"This prepaid card is easy to apply for, manage and use," added Mugwagwa. "Applicants need only walk into any of our branches with their National ID and make a minimum deposit of $20 to get started."

"This partnership with ACCA and FBC Bank is part of MasterCard's passionate drive towards developing a world beyond cash, where we can use our understanding of the market to extend the benefits of financial inclusion and enable the local economy," said Charlton Goredema, Market Manager, Southern Africa. "We look forward to taking solutions like these, ones that are innovative and drive change, and extending them to other sectors of the Zimbabwean economy and community."

Goredema went on to note that MasterCard has developed relationships with key stakeholders in Zimbabwe in order to better understand the needs of its cs citizens, resulting in the development of the FBC-ACCA MasterCard Prepaid card. He emphasized that the development of symbiotic relationships with stakeholders is vital to the development of African economies, and that MasterCard has a shared vision with these accounting professionals - a Zimbabwean economy that is less dependent on cash and that is more financially inclusive.

The introduction of electronic payments remove the risks and costs associated with cash, and have been proven to be a catalyst for economic growth - a meaningful consideration for Zimbabwe for its own economic development. 

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