Mastercard has partnered with Morocco-based BCP Group to revolutionize cross-border payment solutions across African markets. This collaboration is designed to simplify international money transfers, lower transaction costs, and promote economic growth by improving connectivity between local and global markets.
The partnership combines Mastercard’s advanced payment technology with BCP Group’s extensive regional reach. Powered by the Mastercard Move platform, the initiative enables near-instant, traceable payments at competitive rates. It targets both individuals and businesses, ensuring smoother and more affordable money transfers across borders.
Kamal Mokdad, General Manager of BCP & International, stressed the significance of the partnership. He explained that it reflects a mutual commitment to delivering cutting-edge payment solutions and driving technological advancements within the African financial industry. Mokdad emphasized that the new services aim to support regional economic growth by simplifying complex international transactions and making them more affordable.
The Mastercard Move platform offers a broad range of money movement solutions, supporting domestic and international payments in over 150 currencies across more than 180 countries. The platform is designed to provide efficient, scalable, and secure payment solutions for users in Africa.
Dimitrios Dosis, President of Eastern Europe, Middle East, and Africa at Mastercard, emphasized that the partnership aligns with Mastercard’s mission to provide innovative payment solutions tailored to the needs of consumers and businesses.
This partnership is part of Mastercard’s broader strategy to expand its global payment solutions. In September, the company partnered with Saudi financial services startup barq to enhance payment acceptance in Saudi Arabia. Around the same time, Mastercard collaborated with European crypto payments provider Mercuryo to introduce a euro-denominated crypto debit card, enabling users to spend digital assets directly at millions of merchants worldwide.
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Mastercard is also pioneering biometric authentication technology to eliminate the need for physical card numbers and passwords. This cutting-edge innovation is expected to launch in major markets in the coming years, further transforming the global payments landscape.
Additionally in Ethiopia, Mastercard collaborated with Nib International Bank to launch the Prepaid Mastercard, commemorating NIB’s 25th anniversary with a versatile tool for both local and international transactions. In Kenya, Mastercard joined forces with Equity Bank to enable secure money transfers to 30 countries.