The new office brings the number of its offices across the African continent to five, with other offices operational in Cairo, Casablanca, Lagos, and Johannesburg.
Republic of Kenya Prime Minister Raila Odinga said that MasterCard’s products will offer many more East Africans the opportunity to transact electronically.
The new Nairobi office will act as MasterCard’s liaison office for customer banks, business associates and consumers in its main markets of Kenya, Tanzania, Mauritius, Ethiopia and Uganda, as well as across the East African region.
MasterCard Worldwide East Africa and Indian Ocean Islands vice president and market manager Charlton Goredema said that East Africa has always been heavily reliant on cash both in the consumer and corporate sectors.
"MasterCard’s products include debit, prepaid, mobile and credit card payment solutions, which can be used to avoid the pitfalls of cash," Goredema added.
During 2011, Kenyan government had passed the National Payments Systems Bill that will soon be implemented.
MasterCard will also be offering the services of MasterCard Advisors into the East African region to ensure implementation of best-practice principles across the payments network.
