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Global Fintech group Mastercard on Tuesday announced a partnership with Zambia’s National Association of Saving and Credit Unions (Nascu), which will see the introduction of a secure payment system to streamline and automate payments to its savings and credit co-operative members.
The partnership aims to drive financial inclusion by extending formal financial products and services to under-served members of co-operatives.
Under this agreement, Nascu will introduce a secure, efficient and transparent electronic payment system to streamline and automate payments including payroll, loans, and disbursements to its savings and credit co-operative members.
The initiative is seen as a fundamental building block in developing a modernised and inclusive payments ecosystem in Zambia.