Nairobi, Kenya, Feb 26-Kenya Commercial Bank (KCB) and MasterCard have signed a 5-year strategic collaboration framework aimed at rolling out enhanced value propositions for cardholders.
The cardholders will have benefits such a wide spectrum of MasterCard payment solutions including premium World and World Elite cards, youth pre-paid and corporate cards.
Similarly, they will be able to perform a range of transactions including e-commerce payments, cross-border remittances, QR, and Tap on phone solutions. The partners seek to achieve this through leveraging technology initiatives to leapfrog financial inclusion in target territories.
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“We want to tap technology and our expertise to revolutionize how our customers in East Africa access our financial services. This collaboration is also part of our commitment to continually extend a variety of benefits to them while at the same time shaping the future of commerce and forging new paths for inclusive economic growth,” said KCB Group CEO, Paul Russo.
On his part, Mastercard Division President for Sub-Saharan Africa Mark Elliott said that the move will bolster financial access across East Africa.
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“Mastercard and KCB Group share a passion and commitment to accelerate digital transformation and financial inclusion across Kenya and the greater region. We have collaborated to build an innovative, inclusive, and sustainable future in payments, grounded in the shared values of advancing the communities we both serve. We are delighted to partner and deliver a differentiated value proposition for both individual and SME businesses that will drive new payment experiences and increased financial access across East Africa,” he said.
The program will be rolled out in Kenya, Burundi, Rwanda, South Sudan, Tanzania and Uganda.
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