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KCB and Mastercard's Strategic Alliance to elevate East Africa's Remittance in the 5-year Deal

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louis Buyisiwe

Feb 28, 2024

KCB Bank & Mastercard's Elite Partnership

KCB Group CEO Paul Russo and Mastercard's Sub-Saharan Africa Division President Mark Elliott engaging in a formal agreement signing ceremony in Nairobi.
Paul Russo, CEO of KCB Group, on the left, with Mark Elliott, Mastercard's Division President for Sub-Saharan Africa, during the contract signing in Nairobi.

KCB Bank Kenya and Mastercard have recently unveiled a partnership to introduce the World Elite Exclusive Credit Card, targeting premium and private banking clients in Kenya. This strategic collaboration aims to enhance the banking experience for high-net-worth individuals by offering a suite of exclusive benefits and privileges tailored to their sophisticated needs.

The new World Elite Credit Cards are designed to cater to both local and international clients, with two distinct options available: the World Elite KES Credit, suitable for transactions in Kenyan Shillings (KES), and the World Elite USD Credit, intended for frequent international transactions in United States Dollars (USD). Furthermore, KCB Bank has expanded its offerings to include the World Debit Card, which also promises a range of exclusive benefits and privileges, ensuring a personalized and tailored banking experience.

Key features of the Exclusive World Elite card include accelerated rewards earning rates, access to a dedicated 24/7 concierge team for travel arrangements and personalized recommendations, comprehensive travel privileges such as airport lounge access, preferential treatment at partner hotels and resorts worldwide, exclusive access to prestigious golf clubs and tournaments globally, and personalized financial advice from a dedicated relationship manager.

This initiative represents a significant milestone for KCB Bank in its commitment to innovation and customer satisfaction, aiming to foster a robust cashless economy in Kenya. The partnership with Mastercard, a global leader in payment solutions, further solidifies KCB's position in the market and underscores its dedication to delivering world-class financial services that reward customer loyalty.

The launch of these exclusive card schemes comes at a time when Kenya's card and payment market volume is on the rise, with recent data indicating significant growth and potential for further expansion, driven by the emergence of digital-only banks and the rollout of mobile POS terminals​​​.

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