Steward Bank unveils new online payment platform
Steward Bank, Zimbabwe’s largest bank by depositors, has unveiled Steward Pay, an online payment
gateway that facilitates the processing of local and international payments online via VISA,
Mastercard, EcoCash and Steward Bank accounts.
Steward Bank chief executive, Courage Mashavave said the launch of Steward Pay is part of the
bank’s ongoing cycle of technology investment intended to meet its clients continuously evolving
digital needs.
“Steward Pay replaces the need for physical cards and cash when transacting using an easy, safe
and very secure payment method, whether you’re in a store or online,” he said, adding that the
platform is designed with a user-friendly interface that gets payments processed instantly.
He said Steward Pay combines the benefits of cloud native technology with enhanced security, 24
24/7 availability, and world class operational services standards. In addition he said, it also offers
enhanced performance, ease of integration, and seamless self-onboarding onto the payments
platform for customers through standard APIs (application programming interfaces) .
Steward Pay utilises data analytics, thus allowing merchants to see analytics related to their
transactions using a convenient configurable reporting tool. In addition, individual customers and
merchants are able to use multiple accounts from different financial service providers under one
account. This allows users to pay from and merchants to receive into any bank account.
Mashavave said with the introduction of the new online payment system, Steward Bank is set to
connect and power an inclusive, digital economy that benefits everyone, everywhere by making
payments safe, simple and smart for individual customers and businesses in Zimbabwe.
“We are proud to continue playing a key role in facilitating online payments for businesses across
Zimbabwe, and to help foster further economic growth in the country. Steward Pay will empower
customers by diversifying their payment options, providing greater flexibility and peace of mind,” he
said.
Mashavave said it was easy for one to be onboarded as a Steward Pay merchant.
“To be onboarded as a Steward Pay merchant, one simply visits the Steward Pay website,
www.stewardpay.co.zw, and register. A Steward Bank representative will then get in touch with you
to finalize the process within 24 hours.
“Once approved, the merchant can start securely receiving payments from the various payment
platforms supported including international and local payments.”
To make a payment using Steward Pay, he said a customer simply registers a profile on the Steward
Bank Square app, or while initiating a payment for the first time. They then add a supported
payment method, such as their Steward account or EcoCash wallet details.
To finalize the payment, the customer will then select the Steward Pay option on an integrated
merchant’s platform. Once authenticated, the payment is transferred directly from the customer’s
bank or wallet to the merchant’s account. The customer is returned to the checkout page and the
transaction is complete.-newsday
