MasterCard has expanded its acceptance network by licensing SwaziBank to issue its debit cards in Swaziland.
Under the agreement, SwaziBank will issue 80,000 MasterCard debit cards to its business and private customers.
SwaziBank plans to roll out Point of Sale (POS) terminals later in the year.
SwaziBank managing director Zakhele Lukhele said, “Meeting this demand through our collaboration with MasterCard will contribute to stimulating economic growth in the country at a time when Swaziland is actively developing its financial inclusion strategy.”
MasterCard Southern Africa vice president and area business head Charlton Goredema commented, “As SwaziBank enables its customers to benefit from MasterCard’s global payments network, we are assisting Swaziland to integrate its economy with those elsewhere in the world.”
By joining SwaziBank ATMs to MasterCard’s acceptance network, the number of ATMs accepting MasterCard-branded cards throughout Swaziland is expected to increases by 25%.