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Equity Group inks deal to expand cross border payments

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Equity Bank has signed a decade long agreement with MasterCard to offer customers additional channels to conduct regional and global transactions.

The Customer Business Agreement with Mastercard will see the bank’s customers perform cross border remittance, e-commerce payments, QR and Tap on phone solutions.

Channel 1

The bank says the modern payment capabilities will be available to all its subsidiaries in Kenya, Uganda, Rwanda, Tanzania, South Sudan and DRC.

“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. Equity has become the preferred trade and investment partner in the region, and this makes our value proposition in payments and remittances a central part of our offerings. Our partnership with Mastercard is both mutually beneficial timely and aligned to our customer centric commitment,” said Dr James Mwangi, Equity Group Chief Executive Officer.

The deal also gives the Equity Bank customers access to MasterCard payment solutions including World and World Elite cards, corporate cards and virtual cards.

“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,” added Mark Elliott, Mastercard President for Sub-Saharan Africa.

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