A groundbreaking collaboration between Mastercard and Illicocash, the fintech subsidiary of Rawbank, is offering access to e-commerce to millions in the Democratic Republic of Congo (DRC).
Their novel virtual card program allows consumers and businesses alike to transition into a digital future, setting the stage for financial inclusion and a prosperous online economy.
Consumers have the convenience of smooth online shopping, entertainment subscriptions, and more. Simultaneously, start-ups and small enterprises can function with increased flexibility and efficiency.
Karim Nouri, GM of Illicocash, stated, “This program tackles a critical need in our country. As a pioneer in digital payment, we are proud to be teaming up with Mastercard to extend financial access to the unbanked and underbanked through this innovative solution.”
This partnership is in perfect sync with Mastercard’s global mission.
Jean-Charles Yallet, FSSA Country Lead for MENA West at Mastercard, emphasized, “Our leading priority is building a more comprehensive digital economy. Collaborating with local fintech leaders like Illicocash allows us to enable millions in the DRC and beyond to reap the benefits of digital transactions.”
The virtual card program presents two main benefits: speed and universality. Cards can be swiftly and easily issued, removing the need for long application procedures. Additionally, they function seamlessly on both domestic and international platforms, granting access to a large online marketplace.
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