As per the deal, MasterCard will cooperate with Ecobank to explore joint business development opportunities in the future, as well as the issuance and acquisition of MasterCard products across Ecobank’s footprint in Africa.
Ecobank Group CEO Arnold Ekpe said that this MoU will see Ecobank working closely with MasterCard to bring financial services to their customers across the African markets they operate in through prepaid, debit and credit card products.
"It will also enable both organisations to develop extensive acquiring capabilities to serve international customers and tourists coming to Africa, implement mobile commerce strategies and expand our service offerings to retail and commercial customers in Africa," added Ekpe.
MasterCard Worldwide area head of East and West Africa and Indian Ocean Islands Daniel Monehin said that MasterCard already has a successful issuing relationship with Ecobank in Nigeria, and they are looking forward to expanding this collaboration into other markets in which Ecobank operates.
