Premier Bank, Mastercard Partner to Simplify Payments and Cross-Border Transactions
- Premier Bank has launched Kenya’s first Shari’ah-compliant digital banking platform to offer payment solutions
- The bank launched Premier Tap, a wearable, contactless payment solution designed to enhance digital payments and financial inclusion in Kenya
- Premier Bank CEO Osman Dualle said the move is part of the company’s commitment to ensuring seamless services
Premier Bank has unveiled a Shari'ah-compliant digital banking platform in partnership with Mastercard.
Source: UGC
Dubbed Premier Connect, the platform aims to provide seamless financial services both locally and internationally.
According to CEO Osman Dualle, the move positions Premier Bank as Kenya’s first fully Shari'ah-compliant digital bank, combining innovation with ethical banking principles for the modern, devout consumer.
“This innovation underscores our commitment to provide advanced, ethical and customer-centric digital banking solutions for today’s mobile users,” said Osman Dualle, in a press statement seen by TUKO.co.ke.
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Through Premier Connect, customers can open accounts remotely, make real-time payments via IFT, PesaLink, RTGS, SWIFT, and BillPay, securely manage cards, and access treasury and foreign exchange services—all within a single platform.
As part of a strategic partnership with Mastercard, Premier Bank has also launched Premier Tap, a wearable payment solution that enables customers to make fast, contactless payments via smart devices.
“Through our partnership with Mastercard, we are not only introducing a new technology— but also promoting convenience, accessibility and financial inclusion in Kenya,” said Jibril Mohamed, Premier Bank Chief Executive Officer.
Source: Getty Images
Premier Tap supports payments via NFC-enabled smartwatches, rings, key fobs, mobile phone cases and other modern wearables, eliminating the need for cash or cards and enabling secure transactions on the go.
“Premier Tap is a lifestyle-oriented, technology-driven solution that meets the evolving expectations of young, urban and digitally savvy consumers in Kenya,” said Mark Elliott, President of Mastercard Africa.
The solution incorporates Mastercard’s global security standards, including tokenisation and encryption, to protect every transaction from fraud.
“Premier Tap reflects our shared vision of making digital payments secure, stylish, and accessible,” added Shehryar Ali, Senior Vice President and Country Manager, East Africa and Indian Ocean Islands at Mastercard.
The launch of Premier Connect and Premier Tap represents a significant step forward in building a digitally inclusive financial ecosystem in Kenya.
Other partnerships for financial inclusion
In February 2025, TransUnion and FICO Africa partnered, creating a groundbreaking risk solution beyond traditional credit referencing.
The financial risk solutions are designed to broaden access to credit and empower financial institutions.
Co-operative Bank and Finsco Africa also entered a partnership to enhance real estate investments in Kenya.
The deal, signed in April 2025, aimed at opening opportunities for individuals and investors in the sector.
Co-operative Bank Head of Mortgage Finance Japhet Ponda said the partnership supports the government's affordable housing agenda through financing from the Kenya Mortgage Refinance Company.
The partnership came at a time when Kenya’s real estate sector continues to play a significant role in economic growth, currently contributing 6.7% to the country’s GDP, up from 4.1% in 2020.
Source: TUKO.co.ke
