Mauritius Commercial Bank sees boost for card processing unit

Mauritius Commercial Bank (MCB), the country’s biggest lender by market value, expects its card processing division to increase threefold over the next two years, Angelo Letimier, managing director of the unit, said.

“We are targeting to offer services to about 25 banks in two years time, from eight right now,” Letimier said in an interview today in Port Louis, the capital. The average monthly transactions will probably climb to one million a month from 300,000, he said.

MCB holds an 80 percent stake in International Card Processing Services Ltd., with the remainder owned by Hightech Payment Systems SA of Morocco, according to MCB. It offers card processing, ATM and point of sales management.