CBZ combines university ID and bank card into one, no university will pass on this

Leonard Sengere Avatar
CBZ bank Zimbabwe, Black Friday Loans, building society

Imagine having a chip on your forehead (666-style) that acts as an access key, granting access to a house, office, and car whilst being a bank and medical aid card too. We’re not quite there yet, but CBZ has combined the university and bank cards.

This means university students can use the same card to gain access to the library and to pay for a loaf of bread in a supermarket. There are many benefits to this which CBZ goes into…

In yet another milestone, CBZ Bank has launched a student smart-debit card that combines a university student ID card with a student account-linked debit card that is enabled for financial transactions and access control. In this regard, the card consolidates multiple functionalities, which simplifies and streamlines vital aspects of student life.

The integration of financial services into a student ID card offers an array of benefits that extend far beyond conventional measures. This pioneering solution eliminates the need for students to carry multiple cards, streamlining their campus experience by providing a unified platform for various functionalities.

Paying for meals in the cafeteria, textbooks at the campus bookstore, or accessing campus facilities can all be seamlessly facilitated through this single card. This eliminates the hassle of searching for the right card at various points of sale, creating a more efficient and streamlined process. One of the inherent strengths of the CBZ university student ID financial card lies in its ability to empower students with greater control over their financial lives. Through CBZ Touch, students can track their spending, set personal budgets, and monitor account balances in real-time.

For the universities, implementing CBZ student card streamlines financial transactions and reduces administrative burdens. The card simplifies the process for managing student accounts and it also allows institutions to leverage partnerships with CBZ which will lead to additional revenue streams through transactional fees and shared revenue.

Pursuant to this, CBZ Bank has partnered with Midlands State University (MSU) and introduced the CBZ Student Card, which is available to all students registered at the university. This multi-functional card is branded with the student’s details and photo, and is available in dual currency, USD and ZWL, thus bringing many benefits to students and becoming an integral part of campus life.

As part of its assimilation, the card can be swiped in shops, make POS payments at Campus, be enabled for contactless payments (tap and go), and be linked to Zimswitch. Additionally, students get access to the CBZ Touch mobile application, and is compatible with iOS and Android.

Apart from being first introduced at Midlands State University, the card facility is also available for students at other universities across the country, a significant step towards promoting financial inclusion and is poised to revolutionize and simplify students’ academic journey in the country.

The launch of a university student ID financial card is a watershed moment in empowering the financial lives of college students. Partnership with universities redefines university students banking experience.

Neat idea

I think this is a great idea. I’m not sure what the stats look like for college students but for the rest of the country, opening a non-lite bank account is cumbersome. I imagine students also find it a challenge. So, CBZ could be tapping into something here.

Apart from financial inclusion, I believe students may not be enticed by the selling point of having two cards in one. The physical weight and space that cards occupy are not significant enough for this to be a compelling feature. As a result, those who already possess bank accounts may not find a compelling reason to give this a try.

Also, whenever we talk about the convenience brought about by combining two things, we have to talk about the potential inconvenience of misplacing both things at once. That would be on a few less coordinated students’ minds.

In contrast, universities might readily embrace this idea. The primary advantage CBZ highlights is that the card can alleviate administrative complexities by simplifying financial transactions.

I can envision how this could work, as each card is linked to a specific student, making it straightforward to monitor fee payments. If a majority of students opt for the CBZ card, the reconciliation process would also become more efficient.

Next, there’s the aspect of shared revenue, and this is what will certainly pique the interest of university administrators. Zimbabwean banks heavily depend on bank fees, underscoring its significance as a significant revenue source. The fact that CBZ is willing to share a portion of the profits with universities is indeed interesting.

We don’t know what kind of percentages CBZ is offering but whatever it is, it’s money just there on the table for universities to grab.

I can see universities forcing students to get the CBZ card because of these benefits. I think that was the killer move by CBZ – making the deal sweet for universities with no apparent downsides. I foresee a Zimbabwe where students are required to get these cards when first enrolling.

Also read:

Full Text: CBZ Bank and CBZ Building Society want to be one business

Campus Courier is a startup looking to offer delivery and courier services to university students.



What’s your take?

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  1. DevGuy

    This has been there for some time at NUST, It was started by Steward Bank.

    1. Youth Coalition For Success

      Don’t forget to share link

    2. Dickson

      When I was at GZU we had our own card that we used on campus for goods and services without bank charges.

      Will this be the same? What about 2% tax?

    3. Project Manager

      First done in 2014 By NUST and Steward Bank, this must be a paid post

  2. D1vant

    Is this an article or a full page ad

  3. Vin$

    Onemoney partnered with HIT in 2022 and they have the same feature for the student ID.

  4. Youth Coalition For Success

    Don’t forget to share link

  5. Manager

    Techzim now posting one article per week kunge Sunday Mail

  6. C. B

    Pliz post more stuff…. Lately you have been giving us few articles..

  7. C. B

    Post more stuff

  8. Tonderai

    The idea is good. It brings the student within the financial inclusion and tax sphere from an early stage. The school can automatically track student activity and provides a central point where it can collect any funds due to it.

    If fees and other payments can be done through that card account that’s even better because it changes the focus of pushing for POPs.

  9. Brian Gasura

    Very good idea

    1. Auz

      Hapana good idea ba apa

  10. Anonymous

    Steward bank did that around 2016/17 with NUST

  11. Manake

    Very good idea

  12. Josiah M

    I was at nust 2016 and this facility had already been started by steward bank

  13. Anonymous

    Lsu had this around 2021 being facilitated by AFC. So their kind of late to the party.

  14. Anonymous

    They are a bit late, HIT has those from last year, in partnership with Netone’s One Money.

  15. Nitpik

    We had this at Nust waaaay back, apa then it was actual yuwesi.

  16. Anonymous

    CBZ is the best game in town, of course it has been done before, but did they maintained the idea. Only the best in town can maintain it. Looking forward to more services with the bank

    1. Imi Vanhu Musadaro

      CBZ marketing has arrived 😂

  17. Active Chiripanyanga

    Excellent move

  18. Tafadzwa Machi

    HIT did this way back in 2017 when I got enrolled in😂. I’m surprised it’s news now

  19. Smithereens

    CBZ is the biggest fraud in Zimbabwe. They are thieves these guys…please do not trust tsotsis

2023 © Techzim All rights reserved. Hosted By Cloud Unboxed