fbpx

February 17, 2021Blog Posts

Mastercard and MTN empower millions of consumers in Africa to make payments on global platforms

Mastercard

Mastercard and MTN announced a strategic partnership to enable millions of consumers in 16 countries across Africa to make global e-commerce payments safely and securely.

Through a Mastercard virtual payment solution linked to MTN MoMo (Mobile Money) wallets, consumers and merchants can engage with brands and businesses abroad through digital commerce, extending their reach to an international marketplace and unlocking a host of opportunities.

Across Sub-Saharan Africa, mobile devices are the primary channel used to connect to the internet. According to GSMA, by 2025, it is estimated that there will be 300 million more people using their devices to access internet services. In light of this significant growth, mobile financial services have become the dominant form of digital payments, with twice as many mobile money accounts as bank accounts in the region. As a result,  consumers increasingly expect to have access to a broader range of digital financial services.

Image result for mastercard logo transparent
Image result for mtn logo transparent

Source

Want payments insights from across the globe?

Check out our most recent article “Exploring Disparities Across the International Payments Landscape” that reveals insights from TSG’s ongoing Country Series, a growing collection of eReports that analyze the payments landscape of various countries across the globe.

Gain access to this exclusive collection and more through TSG’s eReports subscription.

  • Share this post:

Privacy Preference Center