Nov 24, 2017 Last Updated 7:59 AM, Nov 24, 2017
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NBM to introduce MasterCard service

NBM headquarters in Blantyre  NBM headquarters in Blantyre
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The travelling public and the business community will now have an opportunity of using electronic cash as representatives of National Bank of Malawi (NBM) plan to introduce a Master Card service.

Many Auto teller Machines worldwide recognize Master Cards which give people an opportunity not to carry a lot of cash when travelling abroad.

National Bank was the first to introduce the VISA card in the country which is another internationally recognized facility for electronic cash.

 This development has followed the granting of principle membership to NBM by MasterCard. The bank will start offering these services this year.

“Throughout the world, its principal business is to process payments between the banks of merchants and the card issuing banks or credit unions of the purchasers who use the MasterCard brand debit and credit cards to make purchases.” Said Mcfussy Kawawa NBM General Manager;

According to Kawawa, MasterCard is a payment network that connects merchant payment terminals with a bank’s credit card department.

Because millions of merchants accept huge amounts of credit card purchases every day, NBM preferred to use the MasterCard network to process credit transactions.

“It is the banks expectation that going forward, customers will continue using our services which are convenient and very efficient.” added Kawawa 

 

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