KCB Bank Kenya has partnered with Mastercard to launch the World Elite Exclusive Credit Card, catering to high-end and private banking customers.
This collaboration is a significant step for the bank in providing a top-tier offering for its high net-worth clientele.
The Mastercard-branded cards will be available in two categories: World Elite KES Credit for transactions in Kenyan Shillings, and World Elite USD Credit for frequent international transactions in US Dollars. In addition, the Kenyan bank has introduced the World Debit card, offering exclusive benefits and a personalized banking experience.
Managing Director of KCB Bank Kenya, Annastacia Kimtai, highlighted the bank’s commitment to innovation and meeting the sophisticated needs of their discerning clients while enhancing the cashless economy.
The Exclusive World Elite card offers several benefits, such as accelerated rewards, a 24/7 concierge team for travel assistance, airport lounge access, and special treatment at partner hotels worldwide.
Cardholders will also have exclusive access to prestigious golf clubs and tournaments globally and receive personalized financial advice from a dedicated relationship manager.
Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard, expressed excitement about the partnership and its potential to provide exceptional banking solutions to Kenyan customers. The World Elite Credit Cards have increased daily and per transaction limits to improve the user experience and avoid any inconvenience for clients.
By collaborating with Mastercard, a globally recognized leader in payment solutions, KCB Bank strengthens its position in the market and reaffirms its commitment to offering top-notch financial services that reward customer loyalty.
This initiative aligns with recent research, which predicts that Kenya’s cards and payments market volume will exceed $49.5 million in 2022 and achieve a Compound Annual Growth Rate (CAGR) of over 17% by 2026.The growth of card-based payments in the future is expected to be driven by the launch of digital-only banks and the deployment of mobile POS terminals.