The Republic of Congo's LCB Bank and Mastercard have announced that they have entered into a partnership focused on digitizing the country’s financial economy. This, according to the two financial institutions, is in support of the Republic of Congo's aim to financially empower its citizens.
The partnership agreement is expected to strengthen the payments landscape in the Republic of Congo as EMV Chip and Pin enabled Mastercard payment cards will be introduced into the country. These include prepaid, debit and credit cards, followed by solutions such as Masterpass QR.
The partnership agreement will strengthen the payment landscape through the introduction of relevant solutions, thus encouraging the introduction of new digital solutions which will promote further innovation in the sector.
“We, LCB Bank together with Mastercard are dedicated to providing access to affordable financial services to all citizens in the Republic of Congo. Through our relationship, LCB Bank is now licensed to provide a wide range of Mastercard products and services, giving both locals and foreigners the ability to pay for goods and services more securely and conveniently, both regionally and globally” said, M. Mohamed TAHRI, General Manager at LCB Bank.
With the focus being to deliver on the country's goal of developing a more inclusive economy, access to locally relevant financial services is said to become a reality for all citizens.
“The Mastercard – LCB Bank relationship forms part of our commitment to financially empowering 100 million people across Africa by 2020, and will help ensure that we are able to offer customers continued support across the country,” swid Mohamed Elbelamachi, Area Business Head, Francophone Sub Saharan Africa at Mastercard.
The partnership is commendable as it aims to bring more Congolese into the formal economy by also allowing traders to be able to accept payments electronically.
“We are pleased to be part of this transformation journey in the Republic of Congo,” concluded Elbelamachi.