Mastercard Partners illicocash to Launch Virtual Cards in Democratic Republic of Congo
Payment processing giant Mastercard has partnered with illicocash, a fintech division of Rawbank, to launch virtual cards in the Democratic Republic of Congo.
The strategic partnership aims to facilitate financial inclusion by providing consumers and businesses with a new and effortless way to conduct e-commerce transactions.
Speaking on the partnership deal, Karim Nouri, GM of illicocash said,
“illicocash is a pioneer in the digitalization of payments in the DRC and is accelerating the shift away from cash in the country. The new virtual card program, launched in collaboration with Mastercard, is a crucial addition to our digital services portfolio that addresses the needs of the unbanked and underbanked,
Also speaking, FSSA Country Lead, MENA West, Mastercard said,
“At Mastercard, we are committed to working with local fintech companies to drive innovation in Africa’s payments sector and advance financial inclusion. Our partnership with illicocash is an integral part of our efforts to integrate one billion people and fifty million micro, small, and medium enterprises (MSMEs) into the digital economy globally by 2025”.
The Virtual cards can be ordered quickly and are usable on all national and international websites, giving consumers access to a whole new world of experiences in shopping, subscription renewals, entertainment, and more.
The digital program also allows start-ups and small businesses to easily make online purchases and manage their staff’s travel expenses without the need for physical cards.
Mastercard’s partnership with illicocash is a significant one, as the launch of virtual cards will contribute to the expansion of financial inclusion and the adoption of digital payment methods in the Democratic Republic of the Congo, offering users a modern and accessible means to engage in the evolving financial landscape.
