March 6, 2018Blog Posts

Mastercard acquires Oltio from Standard Bank


Furthering its ambitions to displace cash in emerging markets, Mastercard has acquired mobile payments technology company Oltio from South Africa’s Standard Bank. Founded in 2011 as a joint venture between Standard Bank and airtime operator MTN, Oltio’s technology is currently used to authenticate Masterpass digital wallet purchases in South Africa using a consumer’s bank PIN and mobile phone.

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