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Author MasterCard. Screenshot of MasterCard website.
[Accessed December 11, 2022]

About MasterCard

MasterCard, in partnership with a select group of financial institutions, has provided world-class credit to South Africans for over 50 years.

As one of the most accessible payment networks in the world, they’ve helped revolutionise the payment process.

What you get out of your bank's partnership with Mastercard

Your credit card agreement is a loan between you and your bank. They’ll process your application, provide funds, and receive payments. However, as a MasterCard holder, you gain additional benefits depending on whether you choose the Standard, World, or World Elite benefits package.

Standard offers you the basics that all MasterCard credit card holders can enjoy. Namely the zero fraud liability policy, emergency card replacement, and identity theft protection.

The World and World Elite packages include cell phone insurance, travel and lifestyle benefits, and amazing discounts and promotions. However, even these will depend entirely on your region and bank.

The MasterCard brand and how it got started

Their roots can be traced back to the 1940s when a selection of US banks decided to work together and develop a more convenient payment method. They would offer account holders a slip of paper that could be presented to merchants as payment for goods and services. Businesses could then return these slips to the bank to receive compensation.

As the process evolved, a group of banks split off to form the Interbank Card Association. The goal was to make their services available to the international market. By the late 19 80s, not only had the ICA branched out as far as Africa, Australia, and China, but they’d rebranded to MasterCard International.

The heart of Mastercard beats for the communities who built it

They provide products and services to businesses, banks, and governments, but the communities they serve are what stokes their passion. To this end, they set up the MasterCard foundation with an independent board of directors that helps by offering scholarships and supporting entrepreneurs across Africa.

As a global company operating in over 210 countries, they understand that the diversity of language, culture, and belief makes this world beautiful. In turn, this drives them to promote and celebrate inclusivity.

MasterCard Services

As more and more consumers, businesses, and banks turn to online transactions, MasterCard is increasing its focus on developing and improving the way you pay.

Whether you use your credit card in-store or online, you can rest assured that your transaction will be effortless.

3 ways to zoom through pay points with your credit card

  • Contactless payment methods have become more popular than ever. You can fly through checkout without your card ever leaving your hand by enabling the tap-to-pay feature on your debit or credit card.
  • Forget your wallet at home? Thanks to the collaboration between MasterCard and Google Pay, you can now pay for your groceries by tapping your android phone in a participating store.
  • By downloading the MasterPass app and creating an account connected to your credit card, you get access to the scan-to-pay feature. Whether shopping online or in-store, simply scan the QR code at the till and safely pay in seconds.

The up-side to being a credit card holder

If you earn a minimum of R5,000 per month, have a healthy credit score, and are looking for a financing option you can rely on in case of emergency; then a credit card is just the ticket. It’s a convenient form of personal financing with additional benefits and can be an asset when used responsibly.

Generally, a credit card doesn’t require collateral. But, a secured option is available if you have no credit history or your score needs some rehabilitation. In this case, your savings account will be used as collateral; what you have in that account will determine your credit limit.

How the zero liability policy works

As cards with a magnetic strip are slowly being phased out by more convenient microchip technology, protecting your credit card from fraudsters is becoming easier. These chips also make contactless payment possible and add layers of security software between your private information and the card reader.

MasterCard takes security seriously, and as an added benefit of using their network, they offer you a zero-liability policy. This means you won’t be expected to foot the bill if your card is used fraudulently. However, this policy only stands if you take every precaution to keep your card safe and report loss or theft immediately.

MasterCard – Credit card

  • Loan Type Credit cards

Benefits of MasterCard

  • Mastercard makes travel easy
  • Discounts on products and services
  • Simple application process

MasterCard provides outstanding services to both debit and credit card holders

If managed responsibly, a credit card can be a phenomenal financial tool.

It’s a simple yet effective way to build an admirable credit profile, take care of emergencies, and access fantastic travel discounts and benefits.

Apply for a Mastercard credit card

You can apply for your MasterCard credit card online or in-store at an ABSA, Capitec, or Nedbank branch near you. It’s always best to browse their website or give them a call to ensure you have the specific documents each bank requires, but it’s safe to say that the following will be the minimum requirements.

  • Your South African ID green book or card
  • A printout of your 90-day bank statement
  • Payslips for the last three months
  • Your proof of residence

A good credit score makes a world of difference

No matter what financing option you’re applying for, credit checks and affordability assessments remain the same. The former requires you to permit your chosen bank to run a credit check using your ID number.

A  history of responsibly paying your instalments on time will be reflected in your credit score. Banks view higher scores as an indicator that you're less likely to default on a loan and offer you lower interest rates.

Your ability to afford the loan is key

By analysing your bank statements, payslip, credit score and monthly expenses, a bank can determine your ability to afford the repayments on a credit card.

This assessment is a legal requirement put in place by the NCR to protect you from irresponsible lending practices that may lead to overindebtedness.

Customer Reviews & Testimonials

December 2021

MasterCard has given me the freedom to grow my business the way I wanted it to.

Hendrick J
— Johannesburg —

August 2021

I am so grateful for the opportunity given by MasterCard to start my small business with their much-needed technology.

Marie S
— Sandton —

April 2021

With a MasterCard, there is no limit to where you can go and what you can buy.

Sandra R
— Belville —

MasterCard Contact

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Physical Address

  • 2196 south, 20 Melrose Blvd, Birnam Johannesburg 2196 South Africa
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