MasterCard has licensed Jamii Bora Bank to issue MasterCard debit, prepaid and credit cards in Kenya.
The licensing partnership will see Jamii Bora’s customers adopt the latest technological awarding of this license and will further grow the bank and its customers and members.
Additionally, the partnership will provide card holders with access to over 36.9 million MasterCard point of sale (POS) terminals in over 210 countries.
MasterCard East Africa Area business head vice president, James Wainaina, said they are committed to advancing a cashless society in Kenya and recognise that this can only be done by working with industry partners that have a similar goal.
"Through partnerships such as this one with Jamii Bora, we aim to enhance the adoption of electronic payments as a way to include the unbanked and under-banked into the financial services mold," Wainaina added.
Jamii Bora Bank CEO, Samuel Kimani, said as they continue to invest in new technology that makes payment more convenient for their customers, they are certain that this collaboration with MasterCard is a positive step in attaining this goal.
"We aim to continue to provide our customers with customised, relevant products that meet their growing financial needs," Kimani added.