Ecobank rolls out MasterCard payment solutions to millions of African customers

Ecobank Transnational Inc., is arguably Africa’s largest bank by geographical reach, has signed a landmark multi-country agreement with global payments technology company MasterCard to bring MasterCard’s payment solutions to more than 32 sub-Saharan African markets.

The agreement culminates the multi-country licensing agreement signed by MasterCard and Ecobank in January 2014, which will see Ecobank issue MasterCard debit, prepaid, and credit cards to millions of its customers over the next 10 years.

As part of the deal, Ecobank will also roll out innovative MasterCard acceptance solutions designed to expand the number of merchant locations that accept MasterCard payment cards on the continent.

The move is expected to increase the acceptance and adoption of electronic payments in Africa.