Key Developments

Mastercard and Illicocash Partner to Unlock E-Commerce in DRC with Virtual Card Program

A game-changing partnership between Mastercard and Illicocash, the fintech arm of Rawbank, is opening doors to e-commerce for millions in the Democratic Republic of Congo (DRC).

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.

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