MasterCard, Ecobank to boost e-payments adoption in Africa

Money Transfer

MasterCard and Ecobank have signed a multi-country licensing agreement which will provide access to MasterCard’s electronic payments services for Ecobank’s customers in a further 23 African countries. The agreement is expected to enable electronic payments access to over 60 percent of Africa’s population.

Ecobank subsidiaries in 28 countries across Sub-Saharan Africa are now licensed to issue and accept electronic payments through MasterCard prepaid, debit and credit cards. With this partnership, Ecobank’s customers in the region will have access to MasterCard’s credit, debit and prepaid card products, while MasterCard will leverage Ecobank’s pan-African footprint to provide its electronic payments services to a wider customer base.

Ecobank is now licensed by MasterCard in 28 countries, including Burkina Faso, Benin, Burundi, Cameroon, Central African Republic, Chad, Republic of the Congo, Democratic Republic of Congo, Cote d’Ivoire, Gabon, Gambia, Ghana, Guinea (Conakry), Guinea-Bissau, Kenya, Liberia, Malawi, Mali, Niger, Nigeria, Rwanda, Senegal, Sierra Leone, Tanzania, Togo, Uganda, Zambia and Zimbabwe.