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MasterCard Partners With Premier Bank to Become the First International Payments Network in Somalia

With the partnership of Premier Bank, MasterCard has become the first international payments network to enter Somalia. Through the partnership, Premier Bank will issue and accept the first MasterCard-branded payment cards in Somalia which can be used for Premier Bank’s ATM withdrawals. The bank will also issue 5,000 MasterCard debit cards this year, followed by prepaid cards and point-of-sale (POS) machines. Ever since the government and the financial services system collapsed in 1991, Somalia hasn’t had any form of formal banking service.

Somalia has made significant strides to rebuild the country and instill peace and stability. Today marks a historic m ...

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