First Money Microfinance of Zimbabwe Offers iSave Debit Card in Partnership with Econet’s Steward Bank
First Money Microfinance Services, a provider of loans, insurance and money-transfer services in Zimbabwe, recently debuted the iSave debit card, which allows customers to make purchases at 70,000 point-of-sale locations served by the country’s Zimswitch network. The debit card carries no monthly fees and has a usage limit of $3,000 per month. It is issued through Steward Bank, which is controlled by the South Africa-based Econet Group.
Founded in 2016, First Money is owned by a group of UK-based private investors. Its funders include the Zimbabwe Microfinance Fund, a trust funded by Dutch NGO Hivos and the governments of Denmark, Germany and the UK.