Equity Bank has signed an agreement with Mastercard, aimed at giving customers a range of benefits from a wide selection of Mastercard payment solutions. They range from World and World Elite cards, corporate cards and virtual cards. Customers will be able to perform a range of payments including cross border remittance, e-commerce payments, QR and Tap on phone solutions.
Equity and Mastercard will collaborate and co-create innovative payment solutions in tandem with customer changing needs especially in e-commerce, cross border payments and segment-based value propositions. Other innovations will include community pass solutions that will enable farmers and traders to access services via different identification methods such as QR, biometric and facial recognition.
The partnership will see Equity Bank offer modern payment capabilities across all its subsidiaries in Kenya, Uganda, Rwanda, Tanzania, South Sudan and DRC.
Speaking during the signing of the agreement, Dr. James Mwangi (CBS), Group Managing Director and CEO of Equity Group Holdings Plc said, “We are pleased to scale up our partnership with Mastercard through the Customer Business Agreement. 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. Our partnership with Mastercard is both mutually beneficial timely and aligned to our customer’ commitment.”
This collaboration is set to revolutionize the digital payments arena, empowering previously marginalized small, mid-sized, and micro businesses to seamlessly and securely handle both domestic and international payments from physical and e-commerce transactions.