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September 3, 2015

East Africa Bank unveils first co-branded MasterCard payment card in Djibouti

East Africa Bank has joined forces with MasterCard to launch the first co-branded MasterCard payment card in Djibouti.

By Verdict Staff

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East Africa Bank has joined forces with MasterCard to launch the first co-branded MasterCard payment card in Djibouti.

The lender has already rolled out 5,000 MasterCard-branded debit cards to mark the launch.

According to World Bank estimates, Djibouti has a financial exclusion rate of 87.7% with majority of the one million citizens being unbanked or under-banked.

MasterCard believes that the partnership will help introduce a wider range of electronic payment solutions in the country for all citizens, while replacing cash with safer and more convenient electronic payment solutions will develop a more financially inclusive country.

MasterCard regional manager, East Africa, Anthony Karingi said: "Cardholders will have easier access to their funds. They are able to use their payment card at Point of Sale (POS) terminals in Djibouti but also in 210 countries across the world, where MasterCard is accepted, making travelling outside of the country easier, and safer.

"We are committed to East Africa, and look forward to working alongside East Africa Bank to make Djibouti a more inclusive economy, one that is less dependent on cash."

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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