Kenya: KCB, MasterCard partner to expand East African payments

KCB Bank Kenya and MasterCard have entered a five-year strategic collaboration framework, aiming to offer enhanced value propositions to cardholders across the East African region.

The payment solutions will be implemented across Kenya, Burundi, Rwanda, South Sudan, Tanzania, and Uganda as part of the rollout plan.

Customers will have access to exclusive benefits, including a diverse range of MasterCard payment solutions such as premium World and World Elite cards, youth pre-paid cards, and corporate cards.

Furthermore, cardholders will have the capability to conduct various transactions, encompassing e-commerce payments, cross-border remittances, as well as utilize QR and Tap on phone solutions.

The two financial services leaders will harness each other’s advanced technological networks to collaboratively innovate payment solutions and marketing initiatives, with the aim of advancing financial inclusion in targeted territories.

This collaboration will empower them to foster trust, enhance financial access and well-being, connect consumers with invaluable experiences, and enable small and mid-sized businesses to derive value from their interactions with the bank.

Speaking during the signing ceremony in Nairobi, KCB Group CEO, Paul Russo said; “We want to tap technology and our expertise to revolutionise how our customers in East Africa access our financial services.”

The collaboration, he said, is also part of commitment to continually extend a variety of benefits to customers while at the same time shaping the future of commerce and forging new paths for inclusive economic growth.

“Mastercard and KCB Group share a passion and commitment to accelerate digital transformation and financial inclusion across Kenya and the greater region,”said Mark Elliott, Division president for Sub-Saharan Africa at Mastercard.

source: the-star.co.ke