Mastercard Teams Up With BCP Group For Better Payment Solutions Across Africa

Mastercard and BCP Group, a bank from Morocco, have teamed up to make cross-border payments easier and faster. This partnership aims to improve how transactions work and help boost economic growth in the region.

According to the announcement, the alliance combines Mastercard’s skills in payment technology with BCP Group’s strong presence in African markets. Using Mastercard Move, BCP will offer clients, from individuals to companies, near-instant payments that are easy to track and better priced.

The Partnership Will Lower Costs And Improve Operations For African Businesses

Kamal Mokdad, the General Manager of BCP & International gave his opinion about the collaboration. He stated that this partnership is an important step in the firm’s relationship with Mastercard. It shows the team’s commitment to offering better payment services and bringing new ideas to the African banking world.

He added that besides making the customer experience better, the new services will help the region grow by making it easier and cheaper to send money internationally.

Mastercard Move offers a range of solutions for sending money. It helps with payments inside and outside countries, working with 150 currencies in more than 180 countries.

This partnership is expected to lower costs and improve performance for African businesses and clients. The new system will also help local economies connect better with global markets.

Dimitrios Dosis, the President of Eastern Europe, Africa, and the Middle East at Mastercard also spoke about the partnership. He noted that the collaboration with BCP fits perfectly with the company’s goal to offer its customers new payment solutions that meet their changing needs.

In September, a Saudi financial startup, barq also teamed up with Mastercard to offer payment solutions to businesses and customers in Saudi Arabia.

Mastercard Is Testing Biometric Security And Plans To Roll It Out In The Next Few Years

Mastercard also expanded its support for non-custodial wallets by partnering with Mercuryo, a European cryptocurrency payment company. This deal allows users to spend their digital assets using a euro-based crypto debit card at over 100 million stores worldwide.

The company is also working on removing the use of physical card numbers and passwords to protect transactions. Instead, Mastercard plans to use biometric technology, like fingerprints, for security. This is being tested in several countries and could be available in the next few years.

Recently, Mastercard introduced a new set of tools to help people manage how they share their financial information with others. The tool, called Connect Plus, lets people control where, when, and with whom their financial information is shared.

In the app, users can search for and connect their bank accounts, check which third parties can access their data, and give or revoke permission in real-time.

To keep people informed, Connect Plus will alert users when a third party’s access to their data is about to end or needs attention.