Equity Bank has announced a 10-year customer business agreement with MasterCard, aiming to broaden online payment solutions for its customers.
Dr. James Mwangi, CEO of Equity Group Holdings, stated that the partnership will extend MasterCard’s payment solutions, including World and World Elite cards, corporate cards, and virtual cards.
Customers will have the ability to perform a variety of payments, encompassing cross-border remittances, e-commerce payments, QR codes, and tap-on-the-phone solutions.
Mwangi emphasized that this alliance underscores their commitment to financial inclusion and digital transformation in Africa.
“The opportunity to co-create futuristic payment solutions for our customers across all our bank subsidiaries is part of our strategy of delivering a “One Equity” experience across all our markets.”
“Equity has become the preferred trade and investment partner in the region, and this makes our value proposition in payments and remittances a central part of our offerings. Our partnership with Mastercard is both mutually beneficial and timely and aligned with our customer-centric commitment.”
The partnership will enable Equity Bank to offer modern payment capabilities across all its subsidiaries in Kenya, Uganda, Rwanda, Tanzania, South Sudan, and the DRC.
Mark Elliott, Division President for Sub-Saharan Africa at MasterCard, expressed that this collaboration sets the pace for an evolved, affordable, and transparent payment ecosystem across Africa.
Future innovations will include community pass solutions that will allow farmers and traders to access services via various identification methods such as QR, biometric, and facial recognition.
