Kenya’s Equity Bank, MasterCard sign remittances deal
MasterCard, a global payments firm, has teamed with Equity Bank in Kenya to enable remittances to 30 countries.
Equity Bank customers will be able to transmit funds via MasterCard cross-border services from any of the bank's offices around the country.
The two companies stated that the MasterCard platform provides a number of advantages, including speedier transaction times, and competitive pricing, making cross-border transactions more accessible to consumers
In addition, by using MasterCard's global brand and distribution network, the two partners said this strategic relationship protects the safety and security of remittances, contributing to financial inclusion and the overall well-being of migrants and recipients.
Mark Elliott, president for Africa at Mastercard, said: "Providing innovative solutions that deliver the choice, security, and flexibility that customers transacting from Kenya need and expect is a factor we take pride in. Mastercard is delighted to collaborate with Equity Bank to make this level of payment ingenuity a reality for customers.”
“This collaboration with Mastercard underscores our commitment to providing accessible financial solutions that meet the evolving needs of our customers and solidifies our role in fostering inclusive growth across the region,” said Dr James Mwangi, Group managing director and CEO of Equity Group Holdings.