Digital payment deals continue to makes headlines across Africa. This time Nedbank and Mastercard have announced what is called a landmark agreement to transform digital payments across Southern Africa.
To be precise, South Africa-headquartered financial services group Nedbank and payments giant Mastercard have expanded their long-standing collaboration across Southern Africa through a ten-year commercial agreement.
The agreement spans South Africa, Zimbabwe, Namibia, Eswatini, Lesotho and Mozambique, and, say the partners, will bring enhanced digital payment experiences to customers and businesses across the region.
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.
Together, the two organisations say they will create future-fit products designed to elevate customer engagement and strengthen Nedbank’s competitive edge in key African markets.
They add that this expanded relationship is designed to deliver fresh and exciting value propositions to customers, unlocking unique benefits and experiences that go beyond traditional offerings.
Ciko Thomas, Group Managing Executive: Personal and Private Banking at Nedbank, explains: “As customer expectations evolve, Nedbank is committed to meeting the growing demand for seamless and secure digital banking experiences. 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.”
