Stanbic Bank Zimbabwe has launched a US dollar-denominated prepaid Visa card, positioning the product as an accessible tool for cross-border transactions, online shopping, and international travel bookings.
The card operates on a strictly prepaid basis, meaning customers can only spend funds already loaded onto the account, effectively eliminating credit exposure. The bank has streamlined the application process, requiring minimal documentation: a valid identification document, proof of residence, and passport-sized photographs.
Wonder Mabande, Stanbic Bank’s head of card issuing and acquiring in business and commercial banking, stated that the product was designed to meet the growing demand for reliable foreign currency payment solutions.
"We are empowering customers with a product that not only enables seamless global transactions but also reinforces financial control and security in an increasingly digital economy," Mabande said.
A key feature of the card is that it carries no monthly maintenance charges. It can be conveniently funded through cash deposits at branches, Stanbic ATMs, or via transfers from existing USD accounts. The card is accepted at any Visa-enabled point of sale (POS) worldwide and is fully integrated with the bank's digital platforms—including Blue247, internet banking, and the Stanbic App—offering customers real-time oversight of their spending.
Security remains a priority, with the card featuring EMV chip technology (the international standard for chip-based payments), PIN protection, and one-time password (OTP) verification, all supported by Visa's global fraud monitoring systems.
The bank aims to serve a broad demographic with this rollout, including students, professionals, families, and cross-border traders. This launch comes as demand for USD-denominated payment solutions in Zimbabwe continues to rise, driven by the country's dollarized economy and the rapid expansion of digital commerce.
Stanbic Bank Zimbabwe is a subsidiary of the Standard Bank Group, one of Africa's largest financial services providers by assets
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