Nedbank Zimbabwe and American Express (AMEX) have come into a partnership to broaden the acceptance and usage of American Express Cards in Zimbabwe. Introducing it to tourism industry at the recent Sanganai Hlanganani Expo, this development places Nedbank as the first full-service bank to acquire merchants who will accept American Express Card payments in the country.
Now, tourists with AMEX cards can swipe at wider range of merchant locations or use their online platform through Nedbank, and enjoy the ease of transactions, settlements, and submissions.
The partnership between Nedbank and AMEX came at an opportune time as the tourism flow in Zimbabwe is increasing with arrivals surged by 50% in the first six months of 2023, as compared to the same period last year.
By acquiring merchants for AMEX acceptance, Nedbank Zimbabwe is positioning itself as a pioneer in facilitating global payment options for tourists and business travellers visiting Zimbabwe. This collaboration opens opportunities for merchants, including those at tourist destinations, restaurants, and hotels, to attract high-spending Card Members from around the world, including diaspora market.
Local merchants will now have the option to accept American Express through Nedbank, thereby not only encouraging increased merchant business activity but also offering travelling American Express Card holders the opportunity to transact using their preferred method of payment.
Briana Wilsey, Vice President and General Manager of Global Network Services EMEA at American Express, also spoke at the media launch recently about the collaboration, emphasising American Express’ commitment to expanding payment options globally. Wilsey stated,
“We’re committed to significantly expanding the number of places that accept American Express around the world. The agreement with Nedbank to enable acceptance of American Express payments in Zimbabwe is just one of the ways in which we’re expanding in Africa to enable greater payment choice for businesses and consumers.”
With more than 135 million cards accepted at 18 million locations worldwide across 198 countries and territories, it’s an amazing feat that Zimbabwe has been added to this list. The Business model includes after-sales support, making and tracking transactions, customer support towards the 40% active tourists who hold the AMEX card, and responding to customer needs, while also offering a loyalty program.
As one of the leading banks in Zimbabwe Nedbank has been selected for various reasons which comprise of its expertise in card and payment space. The bank itself is quite innovative as it responds to its partners and customers without fail in a professional manner. It has been providing efficient banking services for five years, catering to the needs of individuals, SMEs, corporate and institutional clients.
Consequently, NedBank merchants who welcome the use of American Express cards will benefit from an additional high-spending customer base.
About Nedbank Zimbabwe
Nedbank Zimbabwe is a leading bank in Zimbabwe, offering a wide range of banking services, insurance, and wealth management solutions to individuals, small and medium-sized enterprises, and corporate clients. As a subsidiary of the Nedbank Group Limited, one of Africa’s top banking groups, Nedbank Zimbabwe has a strong presence and is committed to driving economic growth and financial inclusion in the country.
About American Express
American Express is a globally recognized payments company that provides customers with access to a range of products and services. With a presence in Africa for over 50 years, American Express is dedicated to expanding the acceptance of its Cards across the region, offering greater payment choice for consumers and businesses alike.
