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February 3, 2012

MasterCard unveils East African headquarters

The global payments technology company already has established operational offices in the north and south Casablanca, Cairo and Johannesburg, and hopes to strengthen ties in the east of the worlds second most populous continent The Nairobi office will act as MasterCards liaison office for customer banks, business associates and consumers in its main markets of Kenya, Tanzania, Mauritius, Ethiopia and Uganda, as well as across the rest of the East African region, bringing the organisations knowledge of electronic payments best practice to these markets.

By Verdict Staff

MasterCard has launched its new East African headquarters in Nairobi, Kenya which is operational.

The global payments technology company already has established operational offices in the north and south – Casablanca, Cairo and Johannesburg, and hopes to strengthen ties in the east of the world’s second most populous continent.

The Nairobi office will act as MasterCard’s liaison office for customer banks, business associates and consumers in its main markets of Kenya, Tanzania, Mauritius, Ethiopia and Uganda, as well as across the rest of the East African region, bringing the organisation’s knowledge of electronic payments best practice to these markets.

Daniel Monehin, area head, East & West Africa and Indian Ocean Islands, MasterCard Worldwide, echoed this:

“We are establishing the new Nairobi office as a gateway through which MasterCard will liaise with its existing customers across the East African region.”

“It will also be a launch pad for further expansion across the region, by providing advice to support MasterCard’s ongoing quest to shift consumers from traditional cash payments to non-cash payment systems, so that they can avoid the costs, risks and inefficiencies associated with cash”

MasterCard also plan to provide electronic solutions the a region which has been heavily dependent on cash.

Kenya on her part is working to implement the National Payments Systems Bill – passed in 2011- that aims to enhance credible transactions within its financial sector while promoting investor confidence and MasterCard aims to lend its expertise to the project.

“We believe that the Bill is a recognition that efficient payment mechanisms are essential to the development of the Kenyan economy, and we look forward to working with policymakers to bring electronic payment solutions to this market,” said Charlton Goredema, MasterCard’s vice president and market manager for East Africa.

“For MasterCard, the opportunities Africa brings forth will push the payments frontier faster and further than ever before and we continue our vision to realise a world beyond cash, bringing greater efficiencies to the payments system.”

MasterCard already advises Kenyan banks and business organisations on developing payment solutions that suit Kenyans. One of its recent solutions included a virtual card that operates off a mobile wallet, in partnership with Airtel and Standard Chartered Bank.

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