Tanzania: I&M Bank Tanzania Partners with Mastercard and OpenWay to Roll Out World Elite Debit and Multi-Currency Cards

I&M Bank Tanzania, in collaboration with Mastercard and OpenWay, has introduced the country’s first Mastercard World Elite debit card and multi-currency prepaid cards, leveraging OpenWay’s advanced Way4 digital payments platform.

The launch marks a significant milestone in Tanzania’s evolving digital payments ecosystem, designed to meet rising consumer demand for secure, seamless, and globally connected financial services. Despite Tanzania’s predominantly cash-driven economy, urban centres such as Dar es Salaam and Arusha are experiencing increasing adoption of cashless payment solutions.

With the new product suite, I&M Bank aims to accelerate adoption by offering customers a combination of enhanced payment security, lifestyle benefits, and international convenience. The cards are designed with features such as travel insurance, global hotel discounts, airport lounge access, and multi-currency support, providing unmatched flexibility for both domestic and international transactions.

“Customers today expect more than just a transactional card—they want value, reliability, and global privileges,” said Zahid Mustafa, CEO of I&M Bank Tanzania. “With the Mastercard World Elite debit, Gold Debit, and multi-currency Platinum prepaid cards, we are delivering lifestyle advantages, peace of mind, and a strong digital platform that ensures seamless transactions worldwide.”

The Mastercard multi-currency prepaid card supports ten currencies, making it easier for customers to manage cross-border payments. The World Elite debit card extends premium offerings including concierge services, airport Fastrack access, luxury travel packages, and comprehensive travel insurance coverage.

Adding to the significance of the partnership, Hermann Mike, Regional Director for Sub-Saharan Africa at OpenWay, noted:

“OpenWay is proud to partner with I&M Bank to deliver secure, reliable, and innovative payment solutions that address the changing needs of modern customers. This collaboration underscores our shared commitment to **financial inclusion, compliance, and advancing the digital payments landscape in East Africa.”

Through this collaboration, I&M Bank Tanzania positions itself as a leading player in payment innovation and regulatory compliance, reinforcing its role in driving financial inclusion, enhancing customer experience, and supporting the country’s transition towards a cashless economy.