Their new virtual card program empowers both consumers and businesses to embrace the digital future, paving the way for financial inclusion and a thriving online economy.
Consumers can enjoy seamless online purchases, entertainment subscriptions, and more, while startups and small businesses can operate with enhanced flexibility and efficiency.
“This program addresses a crucial need in our country,” remarks Karim Nouri, GM of Illicocash.
“As a pioneer in digital payments, we’re proud to partner with Mastercard to expand financial access for the unbanked and underbanked through this innovative solution.”
For Mastercard, this partnership aligns perfectly with their global mission.
“Building a more inclusive digital economy is our top priority,” emphasizes Jean-Charles Yallet, FSSA Country Lead for MENA West at Mastercard.
“By working with local fintech leaders like illicocash, we can empower millions in the DRC and beyond to embrace the benefits of digital transactions.”
The virtual card program boasts two key advantages: speed and universality.
Cards can be issued quickly and easily, eliminating lengthy application processes. Additionally, they work seamlessly across both domestic and international websites, opening doors to a vast online marketplace.
Logidoo, a Pan-African logistics startup, has received a $50,000 grant from the International Development Research Centre (IDRC).
Egypt-based edtech startup iSchool has secured $4.5 million in a funding round to fuel its global expansion, with plans to establish a new team in Dublin, Ireland.
African Infrastructure Investment Managers (AIIM), Africa’s largest dedicated sustainable infrastructure equity manager, has successfully closed its fourth pan-African infrastructure fund, African Infrastructure Investment Fund 4 (AIIF4), with a total of USD748 million raised.
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