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May 13, 2016

Rwanda partners with MasterCard to foster cashless economy

The government of Rwanda has partnered with MasterCard to speed up the country's move to include 90% of its citizens in the financial mainstream, as set out in its Vision 2020 strategy.

By Verdict Staff

The government of Rwanda has partnered with MasterCard to speed up the country’s move to include 90% of its citizens in the financial mainstream, as set out in its Vision 2020 strategy.

In order to meet its dream of a cashless economy by 2020, Rwanda in collaboration with MasterCard will promote initiatives such as digitization of school fees and national healthcare claim payments, providing an online payment gateway for Rwanda Online.

The partnership will contribute to the creation of a common mobile banking platform, and effective management of spending activities across borders.

MasterCard president of Middle East and Africa Raghu Malhotra said: "Our global reach and local experience makes MasterCard a perfect partner to help Rwanda meet its Vision 2020 strategy.

"Rwanda is a key market in East Africa for MasterCard and today’s announcement marks an important milestone in driving financial inclusion, not just in the country but in the region and Africa as a whole."

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