By Sula Mavuya
Stanbic Bank, in partnership with cGrate and the Ministry of Commerce, Trade and Industry, has launched StanPay, a digital payment solution that allows customers to make cardless and cashless payments at over 500 retail shops across Zambia.
Speaking at the launch, Commerce Minister Chipoka Mulenga hailed the initiative as a significant milestone in Zambia’s digital transformation, praising it as a tool for promoting inclusive economic growth and financial empowerment.
“This innovation positions Stanbic Bank as a pioneer in digital banking, driving Zambia toward a more inclusive and technologically advanced economy,” said Mr. Mulenga. “It particularly empowers women, youth, and under-banked populations.”
Stanbic Head of Personal and Private Banking, Eunice Mundia, said the product enables fast, seamless transactions at malls, markets, and online platforms. Customers can also access up to K800,000 in personal loans online in just three minutes, including a rebranded Cash Advance facility offering up to K25,000 via mobile banking.
Mundia added that the service is available at 543 Konse Konse POS merchants and will continue expanding.
cGrate Managing Director Kelvin Chikomo emphasized the convenience of the system, saying it eliminates the need for long queues.
Government has encouraged similar public-private partnerships to bridge financial access gaps and stimulate local trade.
