Mastercard and Angaza shine for payments in emerging markets
By Anthony Peyton
Mastercard has signed a global memorandum of understanding (MoU) with Angaza to roll out a digital payment solution for emerging markets.
The duo says their solution “increases access to affordable necessities” – such as solar home systems and water pumps for people and businesses. (In the Swahili language, Angaza means “easy”.)
San Francisco-based Angaza provides a pay-as-you-go (PAYG) embedded metering and monitoring technology, while Mastercard brings its digital payment solutions and infrastructure including QR technology.
“This partnership will help consumers to overcome hurdles such as the significant cash outlay required to purchase critical items by leveraging micropayments, which in turn also helps to build their credit history. All of this is being made available via the internet of things (IoT), which is a great democratiser and is playing a critical role providing safe, secure and accessible digital ecosystems”, says Jorn Lambert, executive vice-president, digital solutions at Mastercard.
Photo courtesy of lirneasia.