Global payments solution provider, Mastercard, has have signed a 5-year strategic collaboration framework with Kenya’s KCB Bank that will see holders of their cards across the East African region benefit from enhanced value propositions.
The payment solutions, according to KCB Group CEO, Paul Russo, will be rolled out in Kenya, Rwanda, Burundi, South Sudan, Tanzania, and Uganda.
Russo who spoke during the signing ceremony in Nairobi on Monday, said customers will enjoy exclusive benefits ranging from a wide spectrum of Mastercard payment solutions, including premium “World and World Elite” cards, youth pre-paid, and corporate cards.
“In addition, cardholders will be able to perform a range of transactions including e-commerce payments, cross-border remittances, QR, and Tap on phone solutions.
“We want to tap technology and our expertise to revolutionize how our customers in East Africa access our financial services,” Russo said.
“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.”
He added that the two leaders in the financial services space will leverage each other’s advanced technological network to co-create innovative payment solutions and marketing initiatives to leapfrog financial inclusion in target territories.
“In turn, it will enable us to deliver trust, deepen financial access and wellness, connect consumers with priceless experiences, and empower small and mid-sized businesses to derive value from their interaction with the bank,” the KCB CEO added.