By ETimes
HARARE – CBZ Holdings, the biggest bank in Zimbabwe, has launched a student smart-debit card that combines a university student ID card with a student account-linked debit card that is enabled for financial transactions and access control.
In this regard, the card consolidates multiple functionalities, which simplifies and streamlines vital aspects of student life.
The integration of financial services into a student ID card offers an array of benefits that extend far beyond conventional measures.
“This pioneering solution eliminates the need for students to carry multiple cards, streamlining their campus experience by providing a unified platform for various functionalities,” the bank said in a statement.
“Paying for meals in the cafeteria, textbooks at the campus bookstore, or accessing campus facilities can all be seamlessly facilitated through this single card. This eliminates the hassle of searching for the right card at various points of sale, creating a more efficient and streamlined process.”
The bank said one of the inherent strengths of the CBZ university student ID financial card lies in its ability to empower students with greater control over their financial lives.
“Through CBZ Touch, students can track their spending, set personal budgets, and monitor account balances in real-time,” it said.
“For the universities, implementing CBZ student cards streamlines financial transactions and reduces administrative burdens. The card simplifies the process for managing student accounts and it also allows institutions to leverage partnerships with CBZ which will lead to additional revenue streams through transactional fees and shared revenue.”
Pursuant to this, CBZ Bank has partnered with Midlands State University (MSU) and introduced the CBZ Student Card, which is available to all students registered at the university.
This multi-functional card is branded with the student’s details and photo, and is available in dual currency, USD and ZWL, thus bringing many benefits to students and becoming an integral part of campus life.
As part of its assimilation, the card can be swiped in shops, make POS payments at Campus, be enabled for contactless payments (tap and go), and be linked to Zimswitch. Additionally, students get access to the CBZ Touch mobile application, and is compatible with iOS and Android.
“Apart from being first introduced at Midlands State University, the card facility is also available for students at other universities across the country, a significant step towards promoting financial inclusion and is poised to revolutionize and simplify students’ academic journey in the country,” reads the statement.
“The launch of a university student ID financial card is a watershed moment in empowering the financial lives of college students. Partnership with universities redefines university students’ banking experience.”