ElectraCard Services signs agreement with Zimbabwe`s bank

BS Reporter / Mumbai/ Pune August 25, 2011, 0:21 IST

Pune based ElectraCard Services (ECS), a provider of software solutions for electronic payment systems, has signed an agreement with FBC Bank, Zimbabwe to provide an end to end processing for its MasterCard debit and prepaid cards.

With this, FBC Bank will be the first domestic bank to issue MasterCard prepaid card in Zimbabwe, since the introduction of multi-currencies.

"The FBC Bank MasterCard debit and prepaid cards will help the customers of FBC Bank to securely and conveniently transact anywhere in the world. ECS will not only assist the FBC Bank to provide more convenience to its customers but also help them strengthen their position as a market leader in electronic payment solutions," said Ramesh Mengawade, CEO, ElectraCard Services speaking on this occasion.

ECS is a preferred processor for prepaid for MasterCard in whole of Africa, Middle East and Asia-Pacific. As technology partners to FBC bank, ECS will handle complete processing of the debit and prepaid cards right from applications, card and accounts, transactions, billing, statements, payment and dispute resolution. It will host the solution from its World Class PCI-DSS certified data centre in Mumbai, India.

"We are committed to deliver value-added solutions to our customers in Zimbabwe and we are very excited about the partnership with ECS, which we believe has further strengthened our payment services to our customers. Through this partnership we are now able to deliver global convenience and security to the market. This will further assist us to constantly innovate and deliver the best for our valued customers," said Agrippa Mugwagwa executive director, retail banking and e-Commerce at FBC Bank.