First Merchant, Malawi launches Payments network with Technology Associates Kenya.

First Merchant Bank is the first private sector commercial bank to be licensed in Malawi and opened to the public in 1995, operating out of 6 branches countrywide. These are in Blantyre (also Head Office), Limbe, Lilongwe, Capital City and Mzuzu. The bank was voted 'Bank of the Year- Malawi 2002, 2003 and 2004' by The Banker (a subsidiary of the Financial Times). The FMB group also operates the country’s leading Leasing and Finance Company and enjoys high growth with an expanding customer base across all sectors of the Malawi economy

In an initiative to launch a differentiated financial product into the country, FMB deployed a unique approach to “banking the unbanked” sector in collaboration with the Malawi Tobacco association. Technology Associates Kenya, contracted to deploy the project on a turnkey basis, will assist in the issue of the FirstCash and the Makwacha card which together with the bank’s existing customer base will allow close on 20,000 tobacco farmer’s access FMB’s countrywide ATM and POS network for their cash withdrawal and card-based payments. FMB has entered into an association with Farmers World, a country-wide merchant network to allow farmers purchase their agricultural commodities.

The functionality offered through the self service network at FMB will include a range of yet un-offered services to the citizens of Malawi.