‘Reducing transaction costs!’ Mastercard Move, BCP Group Unite to Enhance Cross-Border Payments

In collaboration with Mastercard, the BCP Group will leverage Mastercard Move’s money movement capabilities to enhance cross-border payments for their corporate and individual clients.

The collaboration aims to enable near instant, traceable, secure and cost-effective cross-border payments to and from the multiple markets where the BCP Group operates in Africa.

The move reflects the shared vision of both organizations to provide inclusive and innovative financial solutions that optimize transfer operations while reducing transaction costs for end users. It also demonstrates the BCP Group’s strong commitment to addressing the needs of consumers and businesses in the region.

Mr. Kamal Mokdad, General Manager of BCP & International, stated:

“We are delighted to join forces with Mastercard to address the real needs of the populations in our various countries of presence in Africa.

This collaboration marks a new milestone in the strategic relationship between the BCP Group and Mastercard; it demonstrates our commitment to providing superior payment services and driving innovation in the African banking sector.

In addition to improving the customer experience, the new solutions offered will support the economic growth of our region by facilitating the exchange of international flows through simplified transfers at competitive prices.”

“At Mastercard, we are committed to building a prosperous digital economy where everyone can thrive. Our latest collaboration with BCP perfectly aligns with our mission to provide our customers with innovative payment solutions that meet the evolving needs of their consumer and business customers.

Together, we will work to develop a more connected and inclusive financial ecosystem by delivering funds with speed, transparency, and flexibility,” said Mr. Dimitrios Dosis, President of Eastern Europe, Middle East & Africa at Mastercard.

Mastercard Move is Mastercard’s comprehensive portfolio of money movement solutions offering a range of domestic and international payment experiences, from personal payments to disbursements to business payments.

Mastercard Move facilitates the transfer of funds to various endpoints in over 150 currencies across more than 180 countries.

Mastercard’s new content series Money in Motion, which explores key trends in disbursements and remittances, highlights the need from consumers and businesses for fast, efficient and secure cross-border payment solutions.

According to the World Bank, Jordan’s remittance value reached USD4.94 billion in 2023, an increase from USD4.91 billion in 2022. In comparison, the global average is $USD4.59 billion, based on data from 184 countries.