Amid the COVID-19 pandemic, the NBS Bank, one of the country’s leading commercial banks has launched what it calls a state of the art e-commerce platform, powered by Network International, the leading enabler of digital commerce across Africa and the Middle East.
According to a statement issued by the bank’s implementation partners, the Network International, the Online payment gateway will enable NBS Bank to offer Malawian small and medium enterprises (SMEs), large corporations, public institutions and individuals a fast and secure way to enter the rapidly growing e-commerce market in Malawi.
Network International has been at the forefront of driving digital payments acceptance across Africa and the Middle East, offering end-to-end payment solutions to a growing client base in over 50 countries.
With the capability to enable digital commerce transactions for merchants and public organizations through the N-Genius™ Online payment gateway, NBS Bank and Network International will help drive Malawi’s goal of becoming a cash-lite economy.
The service is another example of the Bank investing to support the growth of its customers and the Malawian economy as a whole, reinforcing its position as the leading innovator in the financial services sector.
“E-commerce is the fastest-growing form of commerce in the world. Understanding its role as a key driver of growth for our business, we have launched a world class e-commerce platform with leading payments solutions provider, Network International,” said NBS CEO Kwanele Ngwenya.
Ngwenya said as a first for Malawi, the bank is going to provide a sophisticated, yet low-cost solution, which will not only help grow, but further engage the bank’s customer base and help drive online commerce across many segments of the population in Malawi.
He added that by accommodating all payment types, offering the highest levels of safety and security and enhancing the mobile device experience, the bank’s online platform will help many businesses and sectors of the economy grow their online presence and help drive a digital and cashless society.
Managing Director of Network International Africa Andrew Key said the firm already enjoys a long-term, successful relationship with NBS having helped the bank deliver many innovative products to their clients over the years, including both local processing and connectivity to international card schemes.
Key emphasized that the idea for NBS to embrace the company’s proprietary N-Genius platform, Network will provide them leverage as the times we live in depend on the financial services sector to embrace the latest cutting-edge technology.
The NBS CEO says the bank has always challenged the traditional banking offering, through technology-driven innovations.
“We are delighted to support them as they look to increase online payment acceptance among the population of Malawi and the SADC (South African Development Community) region,” he added.