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Ecobank, MasterCard ink cross-border African deal

By , IT in government editor
Africa , 23 Sep 2014

Ecobank, MasterCard ink cross-border African deal

Ecobank Transnational Incorporated (Ecobank) customers can now use their MasterCard branded prepaid, debit and credit cards in 28 African countries.

MasterCard made the announcement on Tuesday stating that consumers can use their cards at any of Ecobank’s ATMs and point of sale terminals.

The global payments company says the Ecobank subsidiaries that will accept MasterCard-branded cards are in Benin, Burkina Faso, Burundi, Cameroon, Central African Republic (CAR), Chad, Congo, Côte d’Ivoire, Democratic Republic of Congo (DRC), Gabon, Gambia, Ghana, Guinea, Guinea Bissau, Kenya, Liberia, Malawi, Mali, Niger, Nigeria, Rwanda, Senegal, Sierra Leone, Tanzania, Togo, Uganda, Zambia and Zimbabwe.

A pan-African bank, Ecobank currently has operations in 36 African countries.

The Ecobank and MasterCard partnership gives cardholders access to more than 2,500 ATMs and allows them to pay for goods and services in over 20,000 outlets across Africa, a statement notes.

“Expanding MasterCard’s acceptance in 28 countries across Ecobank’s network is a significant milestone for us as we work together to accelerate the adoption of electronic payments and create a cashless society in Africa,” said Daniel Monehin, division president for sub-Saharan Africa at MasterCard.

“Through this partnership, we have combined MasterCard's global payment technology with Ecobank’s unrivalled pan-African footprint to give our cardholders more convenient, secure and reliable ways to pay," he added.

The statement further reveals that MasterCard and Ecobank plan to add four other African markets to those already accepting MasterCard-branded cards, namely Equatorial Guinea, Mozambique, São Tomé and Principe and South Sudan.

Patrick Akinwuntan, Ecobank’s group executive, head of domestic bank added, “This partnership forms part of our broader retail banking strategy of providing Ecobank customers with enhanced service levels, which exceed their expectations."

“Our unique platform gives our customers easy access to their Ecobank accounts when travelling, be it on business or for pleasure, without the need for carrying cash,” he concluded.

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