Mastercard, Sombank to launch debit card in Somalia

Global payment platform Mastercard has partnered with SomBank, an innovative financial institution in Somalia, to promote digital payment solutions.

The partnership allows SomBank to issue and accept Mastercard payments, providing customers with a safe and secure payment solution for various transactions, including purchases, withdrawals, and online payments.

The SomBank Card, a Mastercard-branded debit card, will offer a convenient payment solution for everyday transactions across Somalia, offering access to a wide network of merchants and ATMs that accept Mastercard payments and the bank’s extensive network of branches and agents.

“As a global technology company with a deep commitment to financial inclusion, Mastercard is proud to partner with SomBank to bring digital payments to Somalia. This also supports our commitment to work with financial institutions to bring more people into the digital economy,” said Shehryar Ali, Country Manager for East Africa at Mastercard.

“By providing access to secure and convenient payment solutions, we believe that this partnership will help drive economic growth and improve the lives of millions of Somalis.”

By Mastercard

https://www.mastercard.com/news/eemea/en/newsroom/press-releases/press-releases/en/2023/july/mastercard-and-sombank-announce-partnership-to-launch-debit-card-in-somalia/