Nedbank and Mastercard partner on digital payments across Southern Africa
Nedbank and Mastercard have a 10-year commercial agreement to bring enhanced digital payment experiences to customers and businesses across southern Africa.
The agreement spans South Africa, Zimbabwe, Namibia, Eswatini, Lesotho and Mozambique.
Under the agreement, Nedbank will leverage Mastercard’s global technology expertise and payments innovation to accelerate its growth across retail banking, small businesses, commercial clients and merchant services.
“As customer expectations evolve, Nedbank is committed to meeting the growing demand for seamless and secure digital banking experiences,” says Ciko Thomas, group managing executive: personal and private banking at Nedbank. “This collaboration marks a transformative step in our digital payment capability across our African footprint.
“Through our collaboration with Mastercard, we gain access to cutting-edge security, faster transaction processing and advanced digital tools that will enable us to innovate at speed and maintain our competitive edge in an increasingly digital banking landscape.
“We are proud to be taking this significant step with a trusted global partner.”
Gabriel Swanepoel, president: Africa at Mastercard, comments: “This collaboration is a testimony to the trust that has been built with Nedbank over the years.
“The migration of Nedbank’s card portfolio to the Mastercard network represents a powerful step forward for both organisations and forms part of our long-term commitment to Africa, investing in local infrastructure, strengthening resilience and working with trusted partners to help build payment systems that enable inclusive growth and shared prosperity.”