The National Savings Bank (NATSAVE) says it has embarked on a significant new strategic partnership and joint investment programme with MasterCard in a quest to make banking and payments more efficient, secure and convenient for its customers.

NATSAVE Public Relations Manager Patricia Luhanga says the bank has since signed a strategic partnership agreement with MasterCard, which will see the bank rollout MasterCard Chip and PIN prepaid and debit cards to provide its customers with a safer and more convenient alternative to transacting with cash.
Ms Luhanga says the MoU is in line with the government’s goal of creating an inclusive and modernized digital payments ecosystem in Zambia.
She says the MasterCard Chip and PIN prepaid and debit cards will enable NATSAVE customers, who are currently limited to using their proprietary cards for withdrawing cash, to be switched to MasterCard’s prepaid and debit cards later this year.
The partnership will also see a reduction in customers’ exposure to the safety risks and high transactional costs of handling cash.
“The new cards will feature the latest EMV Chip and PIN payment technology, providing customers with a convenient, globally accepted payment solution with the highest security protection,” she said.
She adds that the partnership also supports Zambia’s National Financial Inclusion Strategy 2017 to 2022, which aims to increase financial inclusion from 59 percent to 80 percent.
“By upgrading to a NATSAVE MasterCard payment card, the bank’s customers will be able to make safe and simple payments for everyday commerce activities,” she said.
Ms Luhanga further says the bank has foreseen that the collaboration will help to contribute to driving digital transformation, financial inclusion and economic development in Zambia, which are top on the agenda for us.
This is contained in a statement made available to Money FM News.