Tech

Kenyan Diamond Trust Bank partners with Mastercard to offer fintechs payment solutions

Published

2 years ago

March 10, 2023

Kenyan Diamond Trust Bank (DTB) has announced a strategic partnership with Mastercard that will enable the bank to provide payment cards for fintech companies in the country.

Announcing what it calls the first of its kind agreement in the eastern African region on Friday, the bank said the partnership will see tech-enabled companies to issue their own card propositions through DTB, using Mastercard’s technology.

“The agreement will also enable DTB to process and settle payments in a faster, more convenient, cost-effective and regulated way as it works to increase its footprint in Kenya,” Nasim Devji, DTB’s Group Chief Executive Officer, stated,
during the signing ceremony in Nairobi.

Devji said the agreement will also improve the reach and ability of fintechs, edu-techs and health-techs to accept or make card payments securely and swiftly.

“This landmark agreement is the latest partnership between DTB and Mastercard in East Africa with the bank exclusively issuing Mastercard payment cards in Kenya, Uganda, and Tanzania,” he said.

“We are delighted to partner with Mastercard on this groundbreaking agreement. We have had a long and fruitful relationship with Mastercard and welcome this opportunity to support innovation in the financial sector.”

“We believe that this partnership will not only enable us to enhance our service offering, but also contribute to the development of a more inclusive and advanced digital payment ecosystem in East Africa,” Devji added.

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Tech

Fintech startup DigMo launched in Zambia to gamify financial planning

Published

3 hours ago

November 24, 2024

Isaac Dachen

DigMo, a gamified fintech startup which helps users to build wealth tools from low to middle-income earners, has been launched in Zambia.

CEO of the DigMo Group, Sylvia Brune, who made the announcement, says the platform which is licensed by the Bank of Zambia to operate a wallet, offers a secure, free digital money account with a special account for users to play a financial planning game which incentivises customers to get started putting money away for the future.

“By giving customers the chance to win big rewards, DigMo is encouraging sustainable habits,” said Brune.

She stated that with an initial rollout in Zambia, DigMo wallet’s first offering, Save to Win, will make putting money away regularly, easy and rewarding with no fixed costs or fees.

“DigMo Save to Win allows users to start with small amounts – from just ZMW10 (US$0.37) – for the chance to win prizes of up to ZMW500,000 (US$19,000).

“We are committed to financial planning innovation for low and middle-income earners across Africa. To achieve this meaningful impact, we approach this like a game studio – where we constantly create and test many new products until we find those with an outsized impact,” Brune said.

“If we just take existing products and make them more affordable or accessible, it is unlikely that we can dramatically change behaviours.

“To succeed, we have engaged directly with users, observing and learning from them to develop DigMo, a solution that will dramatically improve their financial well-being and meet their unique needs,” she added.

Tech

Kenya’s startup BuuPass partners with GiftPesa to launch digital travel vouchers

Published

1 day ago

November 23, 2024

Isaac Dachen

Kenyan digital ticketing and transportation management solutions startup, BuuPass, has entered into a partnership with fintech company, GiftPesa, to introduce digital travel vouchers ahead of the holiday season.

In a statement by BuuPass cofounder and CEO, Sonia Kabra, the move will offer a more flexible and convenient way for Kenyans to manage and gift travel arrangements during the bustling holiday period.

“We’ve noticed a growing demand for digital solutions in the travel industry, especially during peak periods like the holiday season,” said Kabra.

“This partnership with GiftPesa enhances the travel experience for our customers, offering them a convenient way to send travel tickets as gifts and have a safety net for unconfirmed travel dates.

“Unlike traditional paper vouchers that can expire or get lost, GiftPesa vouchers are valid for 12 months and can be redeemed in parts at over 3,000 outlets across the country.

“This flexibility allows recipients to use the vouchers for multiple trips or select their preferred destination, making travel more accessible,” she added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a leading B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

GiftPesa, on the other hand, is a fintech startup that provides businesses and individuals with a platform for creating digital vouchers.

The partnership between the two companies will introduce digital travel vouchers, helping users manage and gift travel arrangements during the bustling holiday period.