KCB Bank Kenya has partnered with global payments technology company, Mastercard, to roll out the world elite credit card that will offer premium and private banking customers a range of market-exclusive benefits, privileges and experiences. This collaboration marks a significant milestone for the bank. It is another strong step in building a world-class offering for its high net-worth customers. The Mastercard branded cards will be available in two categories including world elite Kenya Shillings credit, tailored for high-net-worth individuals and world elite United State Dollars (USD) credit, designed for frequent international transactions in USD. Additionally, the bank has introduced the world debit card which will offer exclusive benefits and privileges, ensuring personalized and tailored banking options.
In respect to this development, KCB Bank Kenya managing director, Mrs. Annastacia Kimtai said: “This exemplifies the bank’s commitment to innovation and giving its customers a delightful experience while fostering a robust cashless economy that benefits everyone. She added : “ The cards set a new standard of excellence, providing unparalleled benefits and privileges that cater to the refined needs of our discerning clientele. “ Mrs. Kimtai further said that they are confident that this offering will further elevate the bank as the preferred choice for premium and private individuals seeking exceptional financial solutions.
The exclusive world elite card will offer a host of benefits, including accelerated rewards earning rates, a dedicated 24/7 concierge team for travel arrangements and personalized recommendations, comprehensive travel privileges such as airport lounge access and preferential treatment at partner hotels and resorts worldwide.
This also comes with exclusive benefits and access to prestigious golf clubs and tournaments globally, as well as personalized financial advice and assistance from a dedicated relationship manager. Shehryar Ali, senior vice president and country manager for East Africa and Indian Ocean Islands at Mastercard expressed his excitement about the partnership and highlighted the opportunities it presents for the market. “This partnership showcases our shared commitment to innovation and providing unparalleled financial solutions to customers in the Kenyan market, “ he said. “ The exclusive world elite credit card combines the global expertise of Mastercard with KCB Bank’s local market knowledge to deliver a truly remarkable banking experience,” he added.
The World Elite credit cards come with enhanced daily and per transaction limits to improve the user experience and avoid any inconveniences for the clients. This collaboration with Mastercard, a globally recognized leader in payment solutions, further strengthens KCB’s position in the market and solidifies its commitment to delivering world-class financial services that reward customers for their business and loyalty.
The move comes as the latest research indicates that Kenya’s cards and payments market volume reached $49.5 million in 2022 and is expected to achieve a compound annual growth rate (CAGR) of more than 17% by 2026. The launch of digital-only banks and the roll-out of mobile point of sale terminals have been touted as catalysts for the growth of card-based payments going into the future.