Equity Bank has partnered with Mastercard to provide customers with various benefits from various Mastercard payment solutions.
These solutions include World and World Elite cards, corporate cards, and virtual cards, enabling customers to make cross-border remittances, e-commerce payments, and use QR and Tap on phone solutions.
The partnership between Equity Bank and Mastercard is driven by their shared vision of empowering customers to meet their payment needs across different lifestyle and business requirements.
The collaboration will also involve continuous innovation in payment solutions, particularly in e-commerce, cross-border payments, and segment-based value propositions. This will include the introduction of community pass solutions, allowing farmers and traders to access services through various identification methods such as QR codes, biometric verification, and facial recognition.
Equity Bank will offer these modern payment capabilities across all its subsidiaries in Kenya, Uganda, Rwanda, Tanzania, South Sudan, and the Democratic Republic of Congo.
During the signing of the agreement, Dr. James Mwangi (CBS), Group Managing Director and CEO of Equity Group Holdings Plc, expressed his satisfaction with the partnership, stating that the opportunity to co-create futuristic payment solutions for their customers across all our bank subsidiaries is part of their strategy of delivering a ‘One Equity’ experience across all our markets.
Our partnership with Mastercard is both mutually beneficial and aligned with our customer-centric commitment.
Mark Elliott, Division President for Sub-Saharan Africa at Mastercard, emphasized the alliance’s commitment to financial inclusion and digital transformation in Africa.
“This alliance underlines our commitment to financial inclusion and digital transformation in Africa. By working together with Equity Group – the largest financial institution in East Africa – we are setting the pace for an evolved, affordable, and transparent payment ecosystem across Africa.”
This collaboration between Equity Bank and Mastercard aims to revolutionize the digital payments arena, enabling small, mid-sized, and micro businesses previously marginalized to handle domestic and international payments seamlessly and securely in both physical and e-commerce transactions.