Zazu to launch Mastercard prepaid cards linked to its mobile wallet

Tuesday 19 November 2019 14:22 CET | News

Zazu Africa Limited (Zazu) has announced a partnership with Mastercard to issue prepaid cards linked to the Zazu app in a move that will help to reduce cash dependence and increase

Zazu is a mobile wallet that allows customers – even those without a bank account – to send, receive, pay and save money digitally. Currently users can only make payments at select Zazu merchants in Zambia. 

By obtaining a Zazu Mastercard prepaid card, cardholders will be able to withdraw money from ATMs and pay for purchase at millions of merchants that accept Mastercard, both in Zambia and internationally. The prepaid card also features contactless technology.

For ecommerce payments, Zazu customers can request a Mastercard virtual card directly in the app, providing them with a  way of transacting online without needing to share their primary card or account information with the merchant. Zazu users can opt for a single use virtual card, which will expire immediately once it’s used, or a virtual card that is valid for 30 days and has no limit on how many times it is used. 

The initiative aligns with the Bank of Zambia’s National Financial Inclusion Strategy, which aims to increase financial inclusion from 59% in 2017 to 80% by 2022, by enabling more people and businesses to access digital payments and formal financial services. Anyone in Zambia can apply for the prepaid card directly from the Zazu app, as well as receive the virtual card. Once they have an account, they can top up their accounts through Zazu agents operating in their communities.

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Keywords: Zazu, MasterCard, cards, mobile wallet, payments , Zambia, app, digital payments, financial inclusion, ecommerce, merchants
Categories: Banking & Fintech
Countries: Africa
This article is part of category

Banking & Fintech