MasterCard said that it is committed to supporting the roll out of the Huduma Card in Kenya that seeks to link all citizens to the formal financial sector to drive efficiency and transparency as part of the country's Vision 2030.
The Huduma Card, which is powered by MasterCard, is a prepaid card equipped with chip and PIN technology. It is now being issued by Commercial Bank of Africa (CBA), Diamond Trust Bank (DTB), Equity Bank and Kenya Commercial Bank (KCB).
Go deeper with GlobalData
The smart card will allow Kenyans to pay for a range of government services including the National Hospital Insurance Fund (NHIF) and National Social Security Fund (NSSF) amongst others. Citizens who will receive the smart prepaid card will automatically be enrolled in these initiatives.
Upon loading funds onto the prepaid card, cardholders can use their Huduma Card to pay for goods and services in store, online, by phone or to withdraw cash from ATMs – anywhere MasterCard is accepted or at millions of locations across the globe.
MasterCard division president for Sub-Saharan Africa Daniel Monehin said: “MasterCard is committed to extending financial inclusion for the unbanked and under-banked in Kenya.
“Innovation is central to achieving our vision of a world beyond cash in Kenya and across the continent. We are committed to developing market-relevant payment solutions that enhance the adoption of cashless transactions. By working together with industry, merchants and businesses, we will achieve this, in East Africa.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
