Mastercard partners Zamtel to transform digital payments in Zambia

ZAMBIA – Global payments and tech company Mastercard and Zamtel have announced a strategic partnership that will enable Zamtel Mobile Money customers, even those without bank accounts to make safe and seamless digital payments on the Mastercard network including international e-commerce transactions. The partnership is expected to drive financial inclusion and improve access to the digital economy. Under the agreement, Zamtel will launch a suite of Mastercard products including a Mastercard virtual solution, a physical debit card, and Mastercard QR, giving its Mobile Money customers new ways to access and…

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Telkom SA and fintech Ukheshe partner to launch virtual card for transactions through WhatsApp

SOUTH AFRICA – Telecommunications company Telkom SA has launched what it calls Africa’s first Mastercard virtual card for use on WhatsApp, enabling Telkom Pay customers to make e-commerce payments. According to the integrated telecommunications company, this move is expected to empower millions of South African customers even those without a bank account – to access the digital economy and transact online. Launched in 2020, Telkom Pay is a digital payments wallet that enables its users to make and receive payments using WhatsApp on their mobile phone. With the addition of the Mastercard virtual (non-plastic)…

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Mastercard partners with payment app Telda to promote digital transformation

EGYPT – Mastercard, multinational financial services corporation, has announced a partnership with Telda, Egypt’s first of its kind payment app. This partnership is set to promote the country’s digital transformation and bring Egypt closer to its vision of becoming a digital economy, particularly benefiting new segments through an innovative consumer experience. Mastercard will also enable Telda to issue prepaid cards to its customers and facilitate transactions through Mastercard’s payment processing services. The Telda App offers users multiple features including sending and receiving money and is the first in the market…

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MasterCard and The Rise Fund to join Airtel Africa as minority investors

AFRICA – Airtel Africa, a telecom company, has announced plans to unveil its two new minority investors, MasterCard and The Rise Fund, in agreed transactions valuing part of their business at US$2.65 billion. This was disclosed by the Chief Executive Officer, Airtel, Raghunath Mandava, in a statement issued to announce its full-year result. “In line with our strategy of unlocking value in our mobile money business, we will soon welcome two new minority investors (The Rise Fund and Mastercard) in agreed transactions which value this part of our business at…

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Econet’s Cassava Fintech partners Mastercard to advance digital inclusion across Africa

AFRICA – The Econet Group, through its subsidiary, Cassava Fintech International has entered into a strategic partnership with Mastercard to advance digital inclusion across Africa and collaborate on a range of initiatives including expansion of the Africa Centres for Disease Control (CDC) TravelPass. TravelPass is a digital health pass developed by Cassava Fintech and offered in conjunction with the Africa Centres for Disease Control and Prevention (Africa CDC). It is accessible to users of Cassava Fintech’s Sasai SuperApp, and is recognised as one of the leading initiatives in the fight…

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Mastercard backs female-focused e-commerce platform Kasha of Rwanda

RWANDA – American multinational financial services corporation Mastercard, has announced a new investment in Rwandan female-focused e-commerce platform Kasha. The two institutions say they will continue their shared efforts to ensure women across emerging markets have essential access to health and personal care products along with the information required to support everyday hygiene needs. Launched in 2018 in Rwanda, Kasha is a platform that allows women across rural and urban locations to make confidential personal care orders. The platform later launched in Kenya in 2019. By utilizing the full product catalogue…

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Shehryar Ali appointed Mastercard country manager for East Africa

KENYA – American multinational financial services corporation Mastercard International, has announced the appointment of Shehryar Ali as Country Manager for East Africa. With more than 19 years of experience driving financial and digital solutions in the region and working in well reputed banks in Africa & Asia, Shehryar brings with him a wealth of experience. Ali will be based in Mastercard’s regional head office in Nairobi. In his new role, Shehryar will be responsible for managing Mastercard’s operations in the region including Kenya and Tanzania, reporting into Raghav Prasad, Division President…

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Nedbank, Mastercard and Ukheshe partner to launch WhatsApp payments in South Africa

SOUTH AFRICA – Nedbank, Mastercard and fintech firm Ukheshe, have joined hands to launch Money Message, a payment platform that lets small and micro businesses receive in-chat payments from their customers via WhatsApp. In a statement, the big-four bank says a first in South Africa, the solution will enable merchants to send an invoice requesting payment from any customer through WhatsApp and their customers, in turn, can quickly settle a payment directly from the platform, it added. “The need for a diverse range of contactless payment methods is more important today than we…

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Uber, Mastercard boost payment digitalization and financial inclusion across MEA

MEA – Mastercard, an American multinational financial services corporation and Uber, a technology company have partnered to implement a new strategic initiative that will focus on digital payments and advancing financial inclusion in the Middle East and Africa (MEA), reaffirming their long-term partnership. By partnering, Uber will be able to drive digitisation across its business operations by leveraging Mastercard’s single infrastructure to meet all types of payment needs across Uber Rides, Uber Eats, Uber Pass, and Uber for Business. Amnah Ajmal, Executive Vice President Market Development, Mastercard, MEA explains that…

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Mastercard Inc to invest US$100m in Airtel Africa’s mobile money unit

AFRICA – American financial service corporation Mastercard Inc will invest US$100 million in Airtel Africa’s mobile money operations valuing the business at US$2.64 billion, the London-listed company said in a press release to Reuters. Mastercard will hold a minority stake in Airtel Mobile Commerce, in line with Airtel Africa’s plan to monetise the mobile money business by selling up to a 25 per cent stake in the unit, the company said. In March 2021, TPG-owned The Rise Fund announced that they will invest US$200 million in Airtel Mobile Commerce (AMC)…

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