back Back

Rawbank’s illicocash & Mastercard team to launch virtual cards

By Delisha Fernandes

January 15, 2024

  • Digital Payments
  • digital program
  • e-commerce transactions
Share

Mastercard, One GlobalMastercard has formed a strategic partnership with illicocash, the FinTech arm of Rawbank, to introduce a virtual card program in the Democratic Republic of Congo (DRC).

The strategic partnership aims to facilitate financial inclusion by providing consumers and businesses with a new and effortless way to conduct e-commerce transactions.

“illicocash is a pioneer in the digitalization of payments in the DRC and is accelerating the shift away from cash in the country. The new virtual card program, launched in collaboration with Mastercard, is a crucial addition to our digital services portfolio that addresses the needs of the unbanked and underbanked,” said Karim Nouri, GM, illicocash.

Virtual cards can be ordered quickly and are usable on all national and international websites, giving consumers access to a whole new world of experiences in shopping, subscription renewals, entertainment and more. The digital program also allows start-ups and small businesses to easily make online purchases and manage their staff’s travel expenses without the need for physical cards.

“At Mastercard, we are committed to working with local fintech companies to drive innovation in Africa’s payments sector and advance financial inclusion. Our partnership with illicocash is an integral part of our efforts to integrate one billion people and fifty million micro, small and medium enterprises (MSMEs) into the digital economy globally by 2025,” said  Jean-Charles Yallet, FSSA Country Lead, MENA West, Mastercard.

Previous Article

January 15, 2024

LatAm-focused FinTech Prometeo secures $13m Series A funding

Read More
Next Article

January 15, 2024

Yes Bank deploys Veefin’s SmartFin supply chain finance solution

Read More








IBSi Daily News Analysis

bahrain, islamic finance

February 22, 2024

Digital Payments

What makes Bahraini Islamic Finance industry so robust

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

MultiPay teams up with Acquired.com to launch Pay By Bank

Read More

Today

UNIPaaS unveils AI payment assistant solution for SaaS platforms

Read More

Today

Security Bank joins Avaloq to digitise its wealth management business

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023