MasterCard has partnered with Angolan lender Banco Sol to launch a suite of payment solutions to help diversify the country’s economy and create an inclusive ecosystem.
The new suite of solution will include MasterCard’s debit commercial prepaid card solutions and commercial management control solutions.
MasterCard believes that the partnership will offer the country core solutions that will help drive financial inclusion and increased ease of business.
MasterCard division president for Sub-Saharan Africa Daniel Monehin said: "This partnership will help modernise the payment sector, and help diversify the economy which is in line with government’s plan to drive economic growth in the country. It will also help to increase financial inclusion in Angola.
"MasterCard shares Banco Sol’s vision of a more empowered, inclusive economy, and together we will continue bringing Angolans the enhanced security, increased financial inclusion, and broad economic growth that payments solutions offer."
Banco Sol executive committee chairman Coutinho Nobre Miguel said: "Thanks to this partnership Banco Sol will now be able to offer a payment suite which matches the global standard, meaning increased ease of doing business, more efficient systems for cross border payments, and eventually online payments, which will expose Angolan business to a global marketplace."