Nedbank Zimbabwe launches American Express merchant acceptance in Zimbabwe

Harare, Zimbabwe, 1 August 2023:

An agreement between Nedbank Zimbabwe and American Express allows the bank start to acquire merchants, enabling international American Express Card Members to use their Cards in Zimbabwe. This agreement positions Nedbank Zimbabwe as the first licensee to acquire merchants for American Express acceptance in Zimbabwe.  This enables international American Express Card Members to use their Cards in both physical and online merchants (including tourist destinations, restaurants, hotels) who are acquired by Nedbank Zimbabwe.

Merchants who are acquired by Nedbank Zimbabwe for American Express acceptance can now attract business from a global base of high-spending Card Members, traveling for business and leisure, from Africa and all around the world. In 2022, the annual spend of American Express Card Members was, on average, three times that of non-Card Members1. 

Merchants have access to market leading reconciliation and balancing tools, including Nedbank Zimbabwe’s online merchant portal where they can view and download settlements, submissions, and transactions, and resolve any disputes quickly and efficiently.

Heresy Herry, Executive Head of Origination & Sales at Nedbank Zimbabwe, said: "We are pleased to be the acquirer of American Express in Zimbabwe and to allow international American Express Card Members to use their Cards in the country. This will provide the increasing number of tourists and business travellers coming to Zimbabwe greater payment choice. We value the confidence that American Express has placed in us to significantly enhance the payment experience in our market. Furthermore, for our merchants, it provides the opportunity to capture more business from international American Express Card Members visiting the country."

Briana Wilsey, Vice President and General Manager of Global Network Services EMEA at American Express, said: "We’re committed to significantly expanding the number of places that accept American Express around the world. The agreement with Nedbank Zimbabwe to enable acceptance of American Express payments in Zimbabwe is just one of the ways in which we’re expandin in Africa to enable greater payment choice for businesses and consumers."

About Nedbank Zimbabwe

Nedbank Zimbabwe is one of the leading banks in Zimbabwe offering offer a wide range of banking services, insurance and wealth management services to individuals, small and medium-sized enterprises (SMEs), corporate and institutional clients. It is a subsidiary of the Nedbank Group Limited, which listed on the Johannesburg Stock Exchange and is one of the top five African banking groups by assets. Nedbank has branches in Bulawayo, Gweru, Harare, Mutare, Victoria Falls and Zvishavane. Nedbank Zimbabwe commenced its operations as the Merchant Bank of Central Africa Limited in 1956 and converted to a fully-fledged commercial bank in 2004 and then subsequently rebranded to Nedbank Zimbabwe Limited in 2018. Nedbank Zimbabwe is a registered Commercial Bank licensed by the Reserve Bank of Zimbabwe and a member of the Deposit Protection Corporation (DPC).

About American Express

American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress. Key links to products, services and corporate sustainability information: personal cards, business cards and services, travel services, gift cards, prepaid cards, merchant services, Accertify, Kabbage, Resy, corporate card, business travel, diversity and inclusion, corporate sustainability and Environmental, Social, and Governance reports.

American Express in Africa

American Express products have been in Africa for over 50 years and its presence in the region continues to expand. American Express consumer Cards and corporate Cards/solutions are issued in more than 40 countries across the region through its joint venture American Express Middle East (AEME), license agreements with financial institutions, and direct issuance of Global Dollar Cards. Through its licensees and AEME, American Express is committed to expanding the number of places where local Cardmembers, international travelers, and local and international businesses can use their American Express Cards for daily spending, business, or tourism in the region.

Contact details for Merchant Banking services

Merchants or who businesses who are interested in accepting American Express and Nedbank’s point of sale services and eCommerce Card solutions can contact the Nedbank Merchant Helpdesk at 0242 254 800 or email: Merchanthelpdesk@nedbank.co.zw.

Latifa Kassim

Acting Head of Marketing, PR & Client Expérience

latifak@nedbank.co.zw