MasterCard has signed a multi-national agreement with Ecobank to provide Mastercard payments solutions to 32 sub-saharan African countries.
This was made known in a MasterCard news release.
This development will enable Ecobank customers make transactions in the over 210 countries where Mastercard is supported. The agreement will also see them enjoy Mastercard payment solutions like the MasterCard Payment Gateway Service which will be available in select countries and will see Ecobank roll out mobile point of sale devices to retailers in select African countries.
“Bringing the benefits of electronic payments to markets across Africa and creating a world beyond cash is a primary focus for MasterCard,” says Michael Miebach, President, Middle East and Africa at MasterCard. “By collaborating with a leading pan-African financial institution such as the Ecobank Group with its extensive regional reach and established infrastructure, another successful step has been taken in ensuring access to safe, secure and convenient payments via MasterCard payment solutions,” he adds.
MasterCard and Ecobank had previously signed an agreement in 2014, to see Ecobank issue Mastercard credit, prepaid and debit cards to its customers across the continent for the next 10 years.