Liberia: Mastercard, GTBank Redefine Digital Payments in Liberia

(L-r): Ikenna Anekwe, Managing Director, Guaranty Trust Bank Liberia; Ebehijie Momoh, Country Manager and Area Business Head, West Africa, Mastercard; Danielle Westwood, Executive Vice President, Edens360; and David Ojeme, CEO/President, Edens360, at the official GTCO Liberia and Mastercard partnership launch in Monrovia, Liberia, on August 31, 2023.

…. Introduces secure, accessible digital payments that empower individuals and businesses

Mastercard is partnering with Guaranty Trust Bank Liberia (GTCO Liberia), one of Liberia’s leading financial institutions known for its commitment to innovation and customer-centric approach.

The strategic collaboration is set to introduce an innovative payment gateway service to Liberia, catalyzing a monumental shift in the nation's digital payment landscape.

By leveraging Mastercard’s cutting-edge technology and GTCO Liberia's robust banking network, this partnership aims to redefine digital payments in the country.

The partnership between Mastercard and GTCO Liberia signifies a monumental leap towards advancing the digital payments economy in Liberia that will empower individuals and businesses, helping them unlock new opportunities and drive economic growth. 

To achieve this, the Mastercard Payment Gateway Service (MPGS) will play a pivotal role in empowering customers with a wide range of payment options, including card payments, mobile wallets, and QR code-based transactions. 

This multifaceted approach ensures swift and secure transactions for goods and services, both online and in-store, while enjoying the benefits of Mastercard’s global acceptance network.

“We are excited about our partnership with Guaranty Trust Bank Liberia. Through strategic collaborations like this, we can harness the power of technology to drive financial inclusion and empower communities across Liberia. We're dedicated to not just following trends, but creating them. This partnership is a testament to our passion for shaping a better, more accessible financial future for everyone in the country,” said Ebehijie Momoh, the Country Manager and Area Business Head for West Africa at Mastercard.

The collaboration with GTCO Liberia marks a significant milestone in the efforts to promote financial inclusion and drive economic growth in Liberia. 

However, the innovative payment gateway will provide individuals, businesses, and government entities with a secure, convenient, and seamless digital payment solution.

“Teaming up with Mastercard on this remarkable journey underscores our unwavering commitment to shaping meaningful solutions. Here at Guaranty Trust Bank Liberia, people are the essence of our work. This partnership is a living testament to our belief that banking is more than transactions. Together we’re not just embracing innovation; we’re crafting a future where everyone in Liberia can flourish, supported by accessible and transformative digital payment experiences,” said Guaranty Trust Bank Liberia.

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. 

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.