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Zemen Bank Rolls Out Digital Banking Outlets

Zemen Bank has partnered up with Mastercard to launch a pre-paid travel card, which can be used to make cashless payments for flights and hotel bookings. The Bank has also made its automated teller machines (ATMs) compatible with cashless payments. Cardholders will be able to use either dollars or euros. In the future, the Bank will work with Mastercard to avail more currencies based on popular destinations, says a statement Zemen issued last week. "We envision that the introduction of such products and services will pave the way for more e-commerce payments too," said Dereje Zebene, the Bank's president, who saw a 740 million Br in profits last year. Zemen, whose paid-up capital stood at 1.8 billion Br by the end of the same period, also rolled out its mobile and internet banking services built in partnership with CR2, an international banking software provider. The mobile banking application has various functionalities such as Z-cash, a means to withdraw from ATMs by issuing a voucher from the mobile app, Z-wallet, where customers can create mobile wallets for non-Zemen customers, and make utility payments.


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