Mastercard, MTN announce mobile money partnership



JOHANNESBURG, (CAJ News) A STRATEGIC partnership between Mastercard and MTN will enable millions of MTN Mobile Money (MoMo) customers to shop and pay online with global merchants.

Customers in 16 African countries can transact.

Through this partnership, MTN customers with a Mastercard virtual payment solution linked to their MoMo wallets can shop on global platforms regardless of whether or not they have a bank account.

“We are very excited about this partnership with Mastercard, which is another step in realizing our ambition to build Africa’s largest fintech platform, accelerating economic and social development through digital innovations for the benefit of citizens across the continent and beyond,” said MTN Group Chief Digital and Fintech Officer Serigne Dioum.

Amnah Ajmal, Executive Vice President for Market Development, Mastercard Middle East and Africa, said the partnership would enable millions of MTN MoMo customers to benefit from global digital commerce, advancing consumer choice and driving digital and financial inclusion.

“This partnership shows that we can deliver innovative digital solutions that have a far-reaching impact and realize the true potential of inclusive growth across the continent, ultimately unlocking opportunities to improved economic possibilities for individuals and businesses” Ajmal stated.

The announcement comes at a time when e-commerce and online shopping are reaching record levels across Africa.

According to the Economy 2021 outlook conducted by the Mastercard Economics Institute, 20-30 percent of the COVID-19-related surge in e-commerce will remain a permanent feature of overall retail spending.

– CAJ News





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