Fina Bank plans MasterCard launch

Aug 06, 2012

Fina Bank is taking steps to encourage consumers in Rwanda to use alternatives to cash.

Fina Bank is taking steps to encourage consumers in Rwanda to use alternatives to cash.

The financial institution has confirmed it intends to launch MasterCard "very soon", reports the New Times.

Rao Balivada, managing director of Fina Bank, said the organisation is already collaborating with Visa to roll out the cashless payment option to people in Rwanda.

"We are working closely with them to ensure that our ATM machines accept MasterCard and Visas," he commented.

The National Bank of Rwanda has been keen to encourage the use of plastic cards rather than traditional notes and coins.

As a result, the Commercial Bank of Rwanda, Equity and the Bank of Kigali are improving their infrastructure to make it possible to use MasterCard, as are several other financial institutions.

This comes shortly after Claver Gatete, the governor of Rwanda's central bank, hailed the strength of the country's banking industry, as well as improvements to its regulatory system and standards over recent months.ADNFCR-2976-ID-801423103-ADNFCR