Mastercard and MTN have announced a strategic partnership to allow millions of customers to safely and securely make global e-commerce purchases in 16 countries across Africa.
Consumers and retailers can connect with brands and companies abroad through digital commerce through a Mastercard virtual payment solution linked to MTN MoMo (Mobile Money) wallets.
This partnership will expand their scope to an international marketplace and providing a range of opportunities.
Meanwhile, Retailers and consumers are usually confined to a local base of online and offline businesses.
Therefore, restricting the willingness of consumers to participate in global trade.
Likewise, this strategic partnership, MTN clients will make payments to global online retailers.
Through a seamless and secure digital payment experience on websites and mobile apps with a Mastercard virtual payment solution connected to their MoMo wallets.
The service is available irrespective of whether the customer has a bank account or not.
Also, the solution will allow customers to discover and shop for well-known global e-commerce brands and pay quickly and safely for shopping, travel, entertainment, and many other services.
Serigne Dioum, Chief Digital and Fintech Officer of the MTN Group said:
“We are very excited about this partnership with Mastercard, which is another step in realizing our ambition to build the largest fintech platform in Africa.
Accelerating economic and social development to benefit citizens across the continent and beyond through digital innovation,”
Amnah Ajmal, Mastercard Middle East and Africa’s Executive Vice President for Business Growth, also said:
“This important milestone will allow millions of MTN customers to benefit from global digital commerce and drive digital and financial inclusion across Africa through easy and secure access to financial services.”
Throughout its Fintech presence, the company will expand the virtual payment solution offering.
The expansion of this payment solution will play an important role in driving digital inclusion and e-commerce growth, thereby enhancing the inclusion of MTN MoMo customers in the global economy.