Landmark Deal To Boost Digital Payments In East Africa

Mastercard and Diamond Trust Bank DTB have signed a milestone 10-year deal to provide bespoke digital payment solutions in Kenya, Uganda, and Tanzania.

This alliance intends to transform the digital and banking experiences of individuals and businesses in the region.

The collaboration will center on providing innovative, safe, and convenient payment solutions, such as custom card products and sophisticated transfer services for peer-to-peer P2P, business-to-business B2B, and person-to-business P2B transactions. In a first for Kenya, the cooperation also includes tokenization-based payment wearables, introducing cutting-edge contactless technology to users across the country.

Nasim Devji, Group CEO of DTB , said, This collaboration with Mastercard will help accelerate our digital transformation journey and significantly enhance our ability to deliver innovative financial solutions to our retail, SME, corporate, and fintech clients.

Kenyas first tokenization-based payment wearables , launched by Mastercard and DTB in collaboration with Tappy Technologies, are a key innovation that allows consumers to make secure, contactless payments by simply tapping the wearable device at any equipped point-of-sale terminal.