Patrice Motsepe’s TymeBank enters into partnership with the ZCC

TymeBank has launched a special Zion Christian Church (ZCC) debit card, which doubles up as a membership card.

The bank is owned by African Rainbow Capital (ARC), founded by South African mining magnate, Patrice Motsepe.

They have paired up with one of the largest churches currently operating in the continent.

TymeBank piloting ZCC debit card

The new Zion City Moria (ZCM) debit card kicks off via a pilot program, which will see some members getting first dig at the benefits.

“The first phase of the partnership is a pilot, which will see a smaller group of ZCC elders taken through TymeBank’s innovative kiosk-based on-boarding process, supported by newly-recruited and trained Zetnet agents,” TymeBank says.

TymeBank

According to the bank, the newly-launched card boasts a number of benifits, first doubling up as a membership card, as well as ZCC membership.

TymeBank also claims that members will receive the “best-in-market” banking fees and interest on savings balances.

Card-holders also stand to benefit from shopping rewards, with extra “smart shopper” points from Pick n Pay, as well as zero-rated data for SmartApp and Internet banking.

“The partners expect that large groups of church members will take up the proposition over the course of the year. Customers will be [on-boarded] at church members’ places of worship, which are located across South Africa,” it said.

“This includes major centres such as Soweto, Tshwane, and Alexandra, to smaller rural villages and at the large annual pilgrimages to Moria.”

TymeBank

Growing with South Africa’s biggest church

Chief executive Tauriq Keraan detailed the growth the bank has enjoyed since its launch in 2015, and credited its partnership with popular retailer for its rise.

“Our partnership with Pick n Pay and Boxer has allowed us to grow rapidly to over one million customers in nine months since launching, and we are still acquiring over 110 000 customers per month through their stores,” said Keraan.

“Our partnership with the ZCC will not only bring us a step change in customer acquisition growth but, importantly, will also result in high levels of account utilisation due to the strong affinity between the ZCC and its members.”

Taureeq Keraan

The ZCC is the largest African-intiated church operating in Southern Africa.

The church was formed in the 1920s by Engenas Lekgananye and boasts what is estimated to be around 12 million members.

Most of the ZCC’s congregants reside in South Africa, and make an annual pilgrimage up to Moria in Limpopo.