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

“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”

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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

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.