Card issuing in Zambia is one of the most dynamic areas in the country’s financial landscape. While cash still plays a major role, many businesses are slowly realising the value of offering branded payment cards to their customers.
Whether your goal is to improve customer loyalty, enhance user experience, or streamline payment operations, there are certain key factors to consider before launching a card program in Zambia.
This guide covers all you need to know about issuing cards in Zambia, and also gives tips on how to get better results with smarter solutions.
How to Issue Cards in Zambia: 5 Key Factors to Consider
To issue cards in Zambia, here are a few things to keep in mind:
1. Partner with a Card-Issuing API Provider
The best way to launch a card program is by partnering with a card issuing API provider in Zambia. This helps you to simplify the launch process and management.
With a provider, you can issue cards within a few days. However, it’s important to choose a provider that allows your company to scale and grow widely. Ensure there’s no restriction on your capabilities, spend limits, and that proper security measures are in place.
To make sure you’re choosing the right partner, explore our blog resources that highlight the key features to consider when selecting a card-issuing provider. Check them out for practical insights.
2. Understand the Key Players Involved:
There are three key players in the card issuing ecosystem in Zambia, or anywhere in Africa. These are:
Issuing Banks:
This refers to the licensed financial institution that issues cards to the cardholder. In Zambia, these are the only institutions licensed and authorized to issue payment cards to individuals or businesses.
In some cases, they act as BIN sponsors to fintech institutions, allowing them to issue cards under their license.
Here, they handled settlement, BIN, compliance, etc.
Acquiring Banks:
These are the merchant’s banks. They accept and process card payment transactions on behalf of businesses.
For example, when a merchant uses a POS terminal to collect a card payment from a customer, the acquiring bank processes that transaction and ensures the funds are settled into the merchant’s account.
Card Networks:
This set of players set the rules, standards, and infrastructure that connect banks globally. They facilitate communication between the issuing and acquiring banks to ensure proper authorization and execution of transactions.
Examples are Visa, Mastercard, American Express, etc.
Other key players are cardholders (the end-customer or business using the card), payment processors (the company that handles the technical side of the transaction), and more.
3. Know Zambia’s Financial Regulations:
To issue cards, here is a non-exhaustive list of regulations that you must be aware of and comply with.
- Banking and Financial Services Act, 2017 (Act No. 7 of 2017)
- Bank of Zambia Act, 2022
- National Payment Systems Act, 2007
- Directives on Electronic Money Issuance 2018
- Financial Intelligence Centre Act
Note: It’s always advisable to consult a legal counsel to guide you through these regulations. However, you can significantly reduce the workload by partnering with a licensed card-issuing company in Zambia that already meets regulatory requirements.
4. Choose the Right Card Type:
There are a number of cards you can choose to issue to your target customers. From credit to debit or prepaid cards, each has varying functions from the other.
Additionally, you need to decide whether to issue a virtual or physical card. In Zambia, virtual cards are becoming the norm.
Also, decide on the card functionalities. If you’re trying to boost engagement or repeat purchases, a loyalty card or cashback incentives are a great initiative.
In short, choose the right card type based on your business's interests and customers’ needs.
5. Choose a Brand Identity:
Branding is an essential part of any modern business or enterprise. To stand out, choose a brand image, color, or visual that fits your niche and goal.
This will also play a crucial part in your marketing or customer retention efforts.
Best API Card Issuing Provider in Zambia
When launching a card program in Zambia, choosing the right API-enabled issuing partner can make a significant difference. One standout provider is Miden, a financial operating system for businesses and enterprises in Africa and beyond.
Why Miden stands out:
- Miden is a powerful card-issuing API that allows businesses to design, issue, and manage both virtual and physical cards with ease.
- Instant Issuance: Businesses can issue cards to customers in real time, cutting down launch times from months to weeks.
- Full Customization: Miden allows complete card branding and design control, so your cards reflect your business identity.
- Smart Spend Controls: Set dynamic limits, usage rules, and permissions to manage how and where cards are used.
- Seamless Integration: The developer-friendly API makes it easy to plug card issuing into any product, platform, or app. In other words, it's easy to use or integrate.
- Regulatory Compliance: Built to meet global card scheme standards and other regulations, Miden ensures every program operates within compliance.
- Scalable Infrastructure: Whether you’re launching locally or expanding across Africa, Miden’s system is designed to grow with your business.
Final Thoughts
While it’s becoming Zambia’s major driver of financial growth, issuing cards still requires precision and understanding. Hence, it’s important to choose a partner that drives operational efficiency across the landscape.
Whether you’re new to the field or looking for a trusted card issuing partner, Miden has consistently proven to be the best solution for financial and non-financial businesses and enterprises in Africa and beyond.
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