Ecobank Transnational has signed an agreement with MasterCard under which consumers can use their MasterCard prepaid, debit and credit cards at Ecobank’s ATMs and POS terminals in 28 African countries.
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The agreement provides MasterCard cardholders access to more than 2,500 ATMs and allows them to pay for goods and services in over 20,000 shops, hotels, restaurants and other outlets across Africa.
Daniel Monehin, division president of Sub-Saharan Africa at MasterCard, said: "Expanding MasterCard’s acceptance in 28 countries across Ecobank’s network is a significant milestone for us as we work together to accelerate the adoption of electronic payments and create a cashless society in Africa.
"Through this partnership, we have combined MasterCard’s global payment technology with Ecobank’s unrivalled pan-African footprint to give our cardholders more convenient, secure and reliable ways to pay."
"MasterCard and Ecobank are also exploring joint business development opportunities across West, Central, East and Southern Africa and will soon add a further four African markets to those already accepting MasterCard-branded cards, namely Equatorial Guinea, Mozambique, São Tomé and Principe and South Sudan," said by MasterCard in a statement.
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By GlobalData
