Paymentology, a global issuer and processor, has agreed to a strategic partnership with Diamond Trust Bank. The partnership aims to drive financial inclusion in Kenya through the embedding of financial services and the introduction of Card as a Service (CaaS) for both licensed and non-licensed businesses. The bank operates in Kenya, Tanzania, Uganda and Burundi. We provide banking and insurance solutions to retail, small business, and corporate customers. Additionally, Diamond Trust emphasizes its commitment to driving sustainable economic growth in the markets it serves.
By combining Paymentology's next-generation technology platform with DTB's extensive market presence and regulatory compliance, both organizations will help fintechs and other non-fintechs looking to incorporate CaaS programs as part of their planning offerings. Provides financial organizations with aggregated card solutions. Along with the regulatory framework.
Paymentology leverages its technology and robust payment card solutions to enable clients to create, distribute, and manage cards. Meanwhile, DTB holds a card association issuer license and can establish and sponsor his BIN (Bank Identification Number) for card issuance.
Collaboration will foster the development of a more inclusive and advanced digital payments ecosystem
Jamie Rhoden, DTB Chief Operating Officer, said:: “We are excited to collaborate with Paymentology, a market-leading and well-known processor, to introduce our joint embedded financial proposition. This partnership not only strengthens our service offering, but also aligns with our digital transformation strategy. It also contributes to the development of a more comprehensive and advanced digital payments ecosystem. ”
Adds Kirsten Wortmann, Paymentology Africa Regional Director: “At Paymentology, we are committed to advancing financial inclusion through strategic partnerships like this one with Diamond Trust Bank. Enabling the inclusion of financial services for both licensed and non-licensed businesses. By doing so, we not only provide a quick route for our partners to activate their cards, but also contribute to regional growth and sustainability.”
“Paymentology and Diamond Trust Bank Partner to Advance Embedded Finance in Kenya” was originally created and published by Electronic Payments International, a brand owned by GlobalData.
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