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The deal will allow technology companies to use Mastercard’s technology to issue their own card offers through DTB.
DTB aims to expand its footprint in the region so payments can be processed and settled faster, more conveniently and cost-effectively. The agreement also enhances the scope and ability of fintechs, edtechs and healthtechs to accept and execute card payments securely and quickly.
The bank is also approved by the government. Central Bank of Kenya We use regulatory licenses to offer card-as-a-service to our approved, technology-enabled partners.
Nasim Devji DTB’s Group CEO expressed delight in partnering with Mastercard. We believe this partnership will not only enhance our service offerings, but also contribute to the development of a more inclusive and advanced digital payments ecosystem in East Africa.
Mark Elliott Mastercard’s President of Sub-Saharan Africa also commented:
Our long-term partnership with DTB is an important step in our commitment to providing digital service providers in the region with the solutions they need to scale and grow their businesses.
The partnership is the latest partnership between DTB and Mastercard in East Africa, where the bank exclusively issues Mastercard payment cards in Kenya, Uganda and Tanzania.
The partnership will also play a key role in supporting the growth of digital solutions in the region, increasing customer touchpoints with DTB and creating access to a range of services offered through Mastercard.
Fintech startups in Africa will grow by 81% in 2021, with South Africa, Nigeria and Kenya emerging as key hubs on the continent, according to Mastercard’s research on the state of fintech in the African market.
