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Diamond Trust Bank (DTB) has partnered with Mastercard to provide payment cards to fintech companies in the country.

The partnership will enable the firms to submit their card propositions through DTB, using Mastercard’s technology, enabling the bank to process and settle payments faster and more conveniently, whereas allowing the firms to accept or make card payments securely and swiftly.

Central Bank of Kenya has also approved DTB to offer Cards-as-a-Service using their regulatory license to tech-enabled approved partners.

This latest partnership enables the bank to exclusively issue Mastercard payment cards in Kenya, Uganda, and Tanzania.

Speaking during the signing ceremony in Nairobi, Group Chief Executive Officer (CEO) at DTB, Nasim Devji said, this partnership will not only enable the bank to enhance its service offering but also contribute to the development of a more inclusive and advanced digital payment ecosystem in East Africa

“We have had a long and fruitful relationship with Mastercard and welcome this opportunity to support innovation in the financial sector,” the CEO said.

Division President for Sub-Saharan Africa at Mastercard, Mark Elliott said the firm has a digital-first approach, which enables the organization to provide innovative and secure solutions that benefit both fintech companies and consumers.

“Our innovative approach has been based on establishing partnerships that can drive the expansion of digital and financial inclusion in Africa. Our long-standing partnership with DTB marks a significant step in our commitment to empowering digital service providers in the region with much-needed solutions to scale and grow their businesses.’