KCB Bank Kenya and MasterCard have inked a 5-year strategic collaboration framework that will see cardholders across the East African region benefit from enhanced value propositions.
The payment solutions will be rolled out in Burundi, Kenya, Rwanda, South Sudan, Tanzania, and
Uganda.
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.
KCB and Mastercard 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 them 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.
“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.
This market-forward multi-year collaboration provides the requisite resources to achieve a shared ambition that accelerates the speed of payment innovation in the East African payments space and places the consumers’ needs at the center of this engagement.
“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,” said Mark Elliott, Division President for Sub-
Saharan Africa at Mastercard.
“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,” added Elliott.