I&M Bank Tanzania, a leading bank with customer-centric
digital solutions, has partnered with Mastercard, a technology leader in the
global payment industry, to launch a suite of Debit and Multicurrency Prepaid
Cards. These cards will enable customers to make seamless transactions in both
domestic and international markets.
The bank will be launching the I&M Debit Gold Card for
personal banking customers and the I&M World Elite Card for high-net worth
clients. I&M Bank Tanzania will be the only bank offering World Elite
Debit Cards in the Tanzanian market to affluent customers, giving them
exclusive access to a range of unique benefits, privileges and experiences that
can be accessed at home and abroad.
The I&M World Elite Exclusive Mastercard Debit card is
designed to provide exceptional services exclusively to I&M clients in
collaboration with a wide range of international companies and premium
retailers worldwide. It offers extra value while maintaining world-class
security and reliability underpinned by Mastercard’s trusted technology. The
new technology, which includes contactless payment, ensures a fast and secure
checkout experience, whilst also empowering consumers to choose how they want
to pay.
Speaking in Dar es Salaam during the signing ceremony,
Zahid Mustafa, Chief Executive Officer for I&M Bank Tanzania said, “We are delighted to be working with
Mastercard, a leading financial technology powerhouse. This solution will
enable both account and non-account holders to transact in both local and
foreign currency – safely, securely, and seamlessly. The cards come with
advanced security features (PIN and EMV chip) that allows contactless payment
(Tap and Go) to ensure that customers transact safely and securely in the
virtual environment.
“Over the last decade,
there has been considerable progress and a shift in the payment landscape as we
know it and as such, we have had to be agile in our approach and develop
innovative solutions that address consumers’ pain points. The World Elite
Exclusive Mastercard Debit card, a first of its kind in Tanzania, will offer
unmatched benefits and convenience to Tanzanians through the Mastercard
Priceless platform,” says Shehryar Ali,
Country Manager, East Africa, Mastercard.
Priceless services and experiences include exclusive access
to the concierge service, privilege membership, premium travel insurance,
travel packages, and access to a suite of airport lounges around the world.
On the other hand, the I&M Multicurrency Prepaid
Mastercard card will be available in 10 currencies and is intended for
customers seeking local and international foreign payment solutions, whether
they hold an account at I&M or not. All that is required is a national
identity card or copy of passport and work permit copy to sign up for the
I&M Multicurrency Prepaid Mastercard and start transacting in the local or
international markets.
Customers can use Prepaid or Debit Mastercard cards on
local points of sale (POS) machines, online, e-commerce platforms and ATMs.
They can withdraw cash, pay for monthly subscription bills such as Netflix,
Spotify and iTunes, and purchase goods and services for their entrepreneurial
projects on E-commerce platforms with ease.
“Mastercard is
committed to driving financial inclusion and providing digital solutions that
help customers make safe and seamless transactions. By providing consumers with
access to secure and convenient payment solutions such as this, we believe that
this partnership will help drive economic growth and improve the lives of
millions of Tanzanians,” adds Ali. “We are
proud to collaborate with I&M Bank to enhance the drive to access financial
services, enabling more people to enter the digital economy and as a leader in
the payments technology industry, we will continue to provide our customers
with the best solutions and experiences”.