Visa Zambia, Indo Zambia Bank Sign Five Year Partnership To Advance Digital Payments.

The agreement aligns with Zambia's national agenda to digitise the economy, adopt global best practices in payment and improve living standards through financial innovation. 

Speaking during the signing ceremony in Lusaka on Wednesday, Visa Zambia country manager, Amon Magunje described the collaboration as a defining moment for the county's financial services sector. 

"This partnership goes beyond technology or commercial value.It is about unlocking the next phase of growth for zambia's economy by deepening customer engagement expanding in to higher value segments and market, " Magunje said. 

He also noted that the bank played a vital role in the county's financial ecosystem, citing it's strong track record and ambition to grow sustainably through value, relevance and innovation. 

According to the agreement, Visa will provide global expertise, data insights and advanced technology solutions to support the bank's digital transformation strategy.

Mugunje further said, the partnership aimed to enable zambian's were not left behind as global commerce shifts towards advanced digital platforms, including emerging technologies that ensures smarter and more automated payment experiences.

Meanwhile IZB managing Director, Rajesh kumar said the agreement represented a significant step in supporting Zambia's digital transformation agenda. 

"By integrating visa's global digital payment capabilities with our modern banking platforms,including the newly launched IZB next app, we are delivering faster, secure and more accessible payments solutions for both corporate and retail customers, " kumar said.

Additionally Mr kumar said that, the partnership would introduce innovative products such as tokenised cards,enhanced digital acceptance solutions and prepaid Products linked to secure digital wallet.

"These solutions will help expand financial inclusion and create convenient payment options, that can support key government programme and social delivery mechanisms, " he said.