Diamond Trust Bank has partnered with Mastercard to enable the Bank to provide payment cards to tech-enabled companies in Kenya.
This follows an announcement by the firms of a strategic agreement that will enable tech-enabled companies to issue their own card propositions through DTB, using Mastercard’s technology.
DTB Group Chief Executive Officer Nasim Devji said the technology will improve the reach and ability of fintechs, edu techs and health techs to accept or make card payments securely and swiftly.
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Speaking during the signing ceremony in Nairobi, the CEO noted that they were delighted to partner with Mastercard on the initiative.
“We have had a long and fruitful relationship with Mastercard and welcome this opportunity to support innovation in the financial sector. We believe that this partnership will not only enable us to enhance our service offering but also contribute to the development of a more inclusive and advanced digital payment ecosystem in East Africa,” he said.
Further, Devji said with Digital Transformation being a key pillar of the bank’s growth strategy, the partnership is aligned to drive DTB’s positioning as the fintech partner of choice across Africa.
The bank has also received approval from the Central Bank of Kenya to offer Cards-as-a-Service using their regulatory license to tech-enabled approved partners.
