I&M Bank Tanzania, a leading banking institution in Tanzania, providing a wide range of financial products and services to individuals, businesses, and corporates. With a commitment to innovation and customer-centricity, the bank strives to meet the evolving needs of its customers and contribute to the growth of the Tanzanian economy has decided to collaborate with MasterCard.
I&M Bank Tanzania has announced its partnership with global financial technology leader MasterCard to introduce a range of debit and multicurrency prepaid cards. This collaboration aims to provide customers with a seamless payment experience, both domestically and internationally.
During the signing ceremony held in Dar es Salaam on Monday, Mr. Zahid Mustafa, the Chief Executive Officer of I&M Bank Tanzania, expressed his delight at working with MasterCard, highlighting their position as a leading player in the financial technology industry.
"In the past decade, we have witnessed significant progress and a shift in the payment landscape. In response, we have embraced agility and developed innovative solutions to address consumers' pain points," Mr. Mustafa stated.
The newly launched suite of cards enables both account holders and non-account holders to transact in both local and foreign currencies with safety, security, and seamlessness. These cards are equipped with advanced security features, including PIN and EMV chip technology, enabling contactless payments for a secure transaction experience in the virtual environment.
In addition to the debit and multicurrency prepaid cards, I&M Bank has introduced an I&M debit gold card tailored for personal banking customers, as well as an I&M world elite card designed exclusively for high-net-worth clients.
Mr. Shehryar Ali, the Country Manager for East Africa at MasterCard, explained that the I&M world elite exclusive Mastercard debit card offers exceptional services to I&M clients in collaboration with a wide range of international companies and premium retailers worldwide.
The partnership between I&M Bank Tanzania and MasterCard aims to enhance financial inclusivity and provide customers with convenient, secure, and globally accepted payment solutions. As the demand for digital payment options continues to grow, this collaboration is a significant step towards meeting the evolving needs of Tanzanian consumers in an increasingly interconnected world.
With the launch of these innovative payment solutions, I&M Bank Tanzania and MasterCard are paving the way for a more seamless and efficient financial ecosystem in the country, contributing to Tanzania's ongoing economic development and progress.
MasterCard is a global financial technology company that operates the world's fastest payment processing network, connecting consumers, financial institutions, merchants, governments, and businesses in more than 210 countries and territories. With a focus on innovation, security, and convenience, MasterCard empowers individuals and businesses to thrive in the digital economy.