February 18

MTN Teams up With Mastercard on Mobile Wallets in Africa

By Wei Shi

Africa’s leading mobile operator MTN has partnered with payment platform Mastercard to add online payment functions to its mobile wallet for user across its fintech footprint.

South Africa-based MTN announced that it has enter a partnership with Mastercard to enable users of MTN MoMo (mobile money) service in all the 16 countries in Sub-Saharan Africa where MTN Money operates to make online payment. Users of MoMo will be able to use a Mastercard virtual payment solution linked to their MoMo wallets, to “shop at well-known global e-commerce brands and pay quickly and securely for leisure shopping, travel, accommodation, entertainment, streaming services and more.” For owners of small businesses, the payment solution will enable them “to purchase from suppliers abroad”, the companies said in a press release.

This should be welcome news to Amazon and Alibaba in particular.

Photo courtesy of USAID Digital Development.

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Finance, Technology, Telecommunications
accelerators, digital payments, fintech, telecommunications