NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Friday, December 23, 2016

Wari and Mastercard signed a Strategic Alliance Agreement that will help strengthen the Wari offering for its users but also the digital payment ecosystem in 35 African markets.

The two technology companies reinforced their focus on providing all citizens with access to secure and easy to use financial solutions, removing the need for cash and delivering more efficient ways for people to pay for goods and services. In support of this commitment, a suite of digital payment solutions will be introduced across the existing Wari network.

As part of the roll-out, the MyWari app will offer a wide range of Mastercard digital solutions that will benefit both consumers and merchants, including:

1. Secure remittance service by HomeSend, giving customers the ability to send and receive funds regardless of the payment method, cash, wallet, debit or credit card. Wari users will automatically have access to a number of diverse operators from banks, telcos and money transfer operators located across the world.
2. Ability to use a virtual card solution, via the app, that gives immediate access to funds, which is linked to the customers prepaid, debit or credit physical card.
3. Access to Masterpass QR, a mobile payment solution that gives Micro, Small and Medium Enterprises (MSMEs) access to a low cost way to accept payments for their goods and services, helping them go beyond cash and traditional point-of-sale (POS) terminals.