Kenya’s Jamii Bora Bank has been licensed to issue MasterCard debit, prepaid and credit cards, which is expected to enhance the adoption of electronic payments among the bank’s clientele.
“MasterCard is committed to advancing a cashless society in Kenya and recognise that this can only be done by working with industry partners that have a similar goal. Financial inclusion for the unbanked and under-banked is a key focus for MasterCard in Kenya and the region,” James Wainaina, vice president and area business head for MasterCard East Africa, said.
“Through partnerships such as this one with Jamii Bora, we aim to enhance the adoption of electronic payments as a way to include the unbanked and under-banked into the financial services mould.”
Samuel Kimani, chief executive officer (CEO) of Jamii Bora Bank, said: “As we continue to invest in new technology that makes payment more convenient for our customers, we are certain that this collaboration with MasterCard is a positive step in attaining this goal. We aim to continue to provide our customers with customized, relevant products that meet their growing financial needs.”