An innovative partnership between Equity Bank Uganda and Mastercard has been officially established. This will lead to a focused effort to promote financial inclusion among Uganda’s digitally excluded people, communities, and businesses.
A memorandum of understanding (MoU) was signed to formalize the relationship. The two organisations aim to use technology to help underserved and marginalised groups find financial support.
Read also: Arkel Consult and Management Services (ACMS) set to promote financial inclusion in Ghana
Equity Bank uses Mastercard Community Pass
Financial inclusion cards will allow people to save and spend online and offline safely.
Community Pass credentials simplify and enable secure, privacy-first, and cost-effective access to many services.
Provide credit to individuals and businesses.
Partnership with Ugandan tech businesses to expand Community Pass digital acceptance.
Mastercard Community Pass facilitates digital inclusion and scales agricultural, micro-commerce, assistance, and healthcare activities commercially. Mastercard connects underserved, distant, and offline communities to digital life transaction solutions with Community Pass.
Daniel Huba, Mastercard Vice President of SSA Market Development, Community Pass, applauded the cooperation for increasing digital exposure, financial inclusion, credit-building, and digital services for disadvantaged and underprivileged groups. Community Pass securely and conveniently links the unbanked to formal financial services.”
Equity Bank’s Executive Director of Public Sector and Social Investments, Elizabeth Mwerinde, stated future payment solutions support their strategy and customer-centricity.
Nigerian fintech, NowNow raises $13million seed funding to boost financial inclusion
Innovation Village partners with Mastercard, Equity Bank
Equity Bank plans to cooperate with Innovation Village and Mastercard to support the Digital Economy Program and expand financial services.
Our Innovation Village Digital Economy Practice Lead, Saul Weikama, said, “By leveraging digital infrastructure and a shared platform, we are dedicated to aligning solution providers with financial institutions and industry leaders… we are committed to driving growth and bolstering financial inclusion through the Digital Economy Program.”
Beyond a partnership, the signing ceremony at the Kampala Serena Hotel represented the beginning of a future where financial inclusion is a reality for all Ugandans, regardless of technological level. This association helps customers and small companies succeed in the digital economy.
Equity Bank and Mastercard are living in a future of financial freedom and inclusion, where technology makes it easier for everyone to participate.
