Africa: Kcb, Mastercard Join Hands to Grow Remittances Within East Africa

Nairobi — KCB seeks to grow remittances within the East African region after signing a deal between KCB and Mastercard.

The five-year agreement targets markets such as Kenya, Burundi, Rwanda, South Sudan, Tanzania, and Uganda.

Users will also enjoy other packs, including Premium World and World Elite Cards, youth prepaid cards, and corporate cards.

They will also be able to perform a wide range of transactions, such as e-commerce payments, QR, and tap-on-the-phone solutions.

KCB Group CEO Paul Russo said that the deal revolutionizes the accessibility of financial solutions in East Africa.

“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.”

Mastercard sub-Saharan Africa president Mark Elliot stated that the framework will propel transparency in the payment system across the region for both individuals and small and medium enterprises, as well as a more stable future in payments.

“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,” said Elliott.

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