IN a groundbreaking move, Mastercard and MTN Group Fintech have forged a transformative alliance aimed at revolutionising digital payments across Africa. The multi-market agreement, spanning 13 key African markets, including Nigeria, Ghana, and South Africa, underscores a shared commitment to bolstering financial inclusion and empowering millions through secure mobile payment solutions.
‘Partnering with MTN represents a significant stride towards facilitating digital commerce for millions in Africa,’ expressed Amnah Ajmal, Executive Vice President of Market Development EEMEA at Mastercard. Ajmal highlighted the pivotal role of mobile money solutions in driving economic prosperity, emphasizing benefits such as streamlined operations and broader payments acceptance for SMEs.
Serigne Dioum, Group CEO of MTN Fintech, echoed the sentiment, emphasising a mutual dedication to expanding access and progress across the continent. ‘When there is a mutual vision to bring access, progress, and prosperity to people, the road to partnership is simple,’ stated Dioum, underscoring the partnership’s focus on superior user experiences and secure transactions.
This strategic collaboration aims to enhance local digital payment infrastructure, foster transaction growth, and promote financial inclusion by providing MoMo wallet users with virtual and physical Mastercard companion cards. Additionally, SMEs stand to benefit from enhanced payment acceptance solutions, while mobile money remittance services will be expanded domestically and internationally.
Mastercard’s ambitious goal of bringing 1 billion people and 50 million SMEs into the global digital economy by 2025 aligns seamlessly with its partnership strategy with telecommunications network companies like MTN. Together, these industry leaders are poised to drive sustainable economic growth and empower millions across Africa with access to secure and convenient digital payment solutions.