Zenith Bank launches MasterCards to enhance transaction
Zenith Bank Limited, in partnership with MasterCard International, has unveiled the bank’s MasterCards to the public at a ceremony in Accra.
Advertisement
They comprise debit, credit and prepaid cards to be used locally and internationally for the payment of goods and services.
The Managing Director (MD) of Zenith Bank, Mr Henry Oroh, said the Ghanaian banking landscape was constantly evolving and the main driver of this evolution remained technology.
He said it also provided the gateway for endless opportunities to create unique platforms that made banking transactions more convenient and easily accessible.
According to him, the increasing competitive environment, coupled with the high expectations of customers, had made it expedient for the bank to continue to improve and enhance the quality of products and services.
Mr Oroh said with MasterCard coming on board, the bank could now provide its customers with a wider array of card options that would make their everyday transactional activities easy, efficient and secure.
“This is another reassurance of our commitment to provide innovative banking products and services that cater for the needs of our customers,” he added.
He said the partnership between the two institutions had presented them with the opportunity to increase the usage of cards in Ghana by issuing MasterCard with chip-enabled technology to all customers.
Mr Oroh added that the cards would provide customers with an efficient way of accessing their funds, a way for merchants to efficiently receive clients’ payment for their goods and services and have access to over 120 million automated teller machines (ATMs) worldwide.
He said the bank’s ability to issue these cards consolidated its quest to have a larger fraction of the population, both the banked and unbanked, to use the cards.
“It further attests to the bank’s commitment to the nation’s cash-lite agenda,” he said.
Apart from MasterCard partnership, Zenith Bank has introduced other electronic platforms such as GlobalPAY, a secured web-based collection gateway that enables merchants to accept real-time cards payments from customers worldwide.
The Head of Payment Systems, Bank of Ghana (BoG), Dr Settor Amediku, commended management of the bank for the initiative.
He assured stakeholders in the digital financial space of its continuous efforts to support innovative solutions that promote electronic payments and inclusive finance.
He said BoG was reviewing the payment systems Act, 2003, Act 662 to reflect the development in the payment system and to take advantage of technological changes.
The Country Manager-Ghana, Mastercard International, Mr Obi Okwuegbunam, commended the management team of the bank for the opportunity, and added that the MasterCard was committed to working with Zenith Bank.
He said the partnership with the bank was a form of consolidating the relationship that existed between the two institutions.