MasterCard, a global leader in payment solutions, and Guaranty Trust Bank Liberia (GTCO Liberia), have signified a strategic collaboration, launching an advanced payment gateway service in Liberia. The new partnership aims to revolutionize the digital payment landscape in the country, by leveraging MasterCard’s cutting-edge technology and GTCO Liberia’s banking network.
The launch of the MasterCard Payment Gateway Service (MPGS), in collaboration with GTCO Liberia, marks a significant milestone in the efforts, according to the bank, that will promote financial inclusion and drive economic growth in Liberia.
GT Bank disclosed that, “The innovative payment gateway will provide individuals, businesses, and government entities with a secure, convenient, and seamless digital payment solution.”
At the launching ceremony of the program, the Bank Director in Liberia, Ikenna Anekwa, noted that with the MasterCard payment gateway service, customers will have access to a wide range of payment options, including card payments, mobile wallets, and QR code-based transactions.
He added that the innovation will enable users to make quick and secure payments for goods and services, both online and in-store, while enjoying the benefits of MasterCard’s global acceptance network.
Anekwa asserted that the collaboration between MasterCard and GTCO Liberia represents a major step forward in advancing the digital payments ecosystem in Liberia, which will empower individuals and businesses, helping them unlock new opportunities and drive economic growth.
The MasterCard payment gateway service offers enhanced security features, including tokenization and multi-factor authentication, to protect customers’ financial data and provide peace of mind during transactions. Moreover, the partnership will enable GTCO Liberia to leverage MasterCard’s vast network of merchants, empowering local businesses to accept digital payments and expand their customer base.
“By combining our expertise and resources, we aim to accelerate the adoption of digital payments, making it easier and more secure for customers to transact. This partnership aligns with our commitment to providing innovative financial solutions and driving economic progress in Liberia,” he added.
The MasterCard payment gateway service will be rolled out in phases, starting with selected merchants, and gradually expanding to cover a wide range of businesses across Liberia.