Browsing: Mastercard

• Mastercard said plans are in motion to remove PVC plastics from payment cards on its network by 2028
• The global payment solutions company said the move would further reinforce their sustainability commitments 
• All newly–produced plastic payment cards will be required to be made from more sustainable materials – including recycled or bio-sourced plastics such as rPVC, rPET, or PLA

Mastercard said it is planning to remove PVC plastics from payment cards on its network by 2028.

In a statement, the global payment solutions company said the move would further reinforce their sustainability commitments and scale the accessibility of more sustainable card offerings for consumers seeking a way to reduce the environmental impact of their wallet.

Mastercard turns to recycled, bio-sourced plastics 

From January 1, 2028, all newly–produced plastic payment cards will be required to be made from more sustainable materials – including recycled or bio-sourced plastics such as rPVC, rPET, …

• Tigo Tanzania, Selcom and Mastercard Inc. have partnered to introduce online payments on a global scale
• The three parties have launched the service through the Tigo Mastercard virtual service via Selcom’s card-as-a-service (CaaS) platform
• The deal is expected to enable Tigo Pesa customers to transact on global payments platforms

Tigo Tanzania, Selcom and Mastercard Inc. have partnered to introduce online payments on a global scale. The three parties have launched the service through the Tigo Mastercard virtual service via Selcom’s card-as-a-service (CaaS) platform.

According to the partners, the deal is expected to enable Tigo Pesa customers to transact on global payments platforms. They will also benefit from Mastercard’s technology which would enable new digital commerce opportunities for consumers and merchants, through simple and secure payment experiences.

The launch of the virtual card will ensure Tigo’s ability to provide its customers access to products and services previously a preserve of physical …

• Diamond Trust Bank and Mastercard have announced a strategic agreement that will enable the bank to provide payment cards to tech-enabled companies including fintechs in Kenya
• The Agreement will enable tech-enabled companies to issue their own card propositions through DTB, using Mastercard’s technology
• The agreement is the latest partnership between DTB and Mastercard in East Africa with the bank exclusively issuing Mastercard payment cards in Kenya, Uganda, and Tanzania

Diamond Trust Bank (DTB) and global technology company Mastercard have entered into a new deal to enable the bank to provide payment cards to tech-enabled companies including fintechs in Kenya.

The Agreement will enable tech-enabled companies to issue their own card propositions through DTB, using Mastercard’s technology.

The agreement will enable DTB to process and settle payments in a faster, more convenient, cost-effective and regulated way as it works to increase its footprint in the region. It also improves the reach …

In Sub-Saharan Africa, more than 60 per cent of the population is comprised of small-scale farmers, and the agricultural sector is anticipated to provide 23 per cent of the continent’s GDP, as stated by McKinsey & Company. However, just 3% of the industry is eligible for banking credit, which severely restricts the ability of farmers to expand their businesses or reduce the impact of unfavourable harvests.

“In contemporary times, ensuring food security is a requirement that is both vital and urgent. As a result, we are going to have to step up to the challenge and create chances for growth in Africa’s agriculture value chain. Our collaboration with Mastercard has arrived at the perfect time to hasten the process of providing smallholder farmers in Africa with access to the essential financial services they require.

These services are essential to the achievement of Africa’s full agricultural potential. According to Ade Ayeyemi, …

• Kenya’s PesaLink payments ecosystem has signed a Memorandum of Understanding (MoU) with Mastercard to create innovative, digital-first payment solutions
• PesaLink will leverage Mastercard’s technology, expertise, partnerships, and cyber intelligence solutions to diversify its payment capability beyond person-to-person payments
• Mastercard will collaborate with PesaLink to expand its services to include a direct-to-consumer digital proposition, agent banking and solutions for business and government payments

Integrated Payment Services Limited (IPSL) which runs the PesaLink payments ecosystem has signed a Memorandum of Understanding (MoU) with Mastercard to create innovative, digital-first payment solutions designed to boost the adoption and usage of digital payments and accelerate Kenya’s transition to a cash-lite economy.

Established by the Kenya Bankers Association, the PesaLink ecosystem continues to grow and today, comprises 31 banks in Kenya and several payment service providers, Savings and Credit Cooperatives (SACCOs) and a telco, enabling over 9.5 million customers to connect to a secure, fast, efficient, …

• MyBank, Mastercard and Network International have partnered to launch a new Mastercard debit card in Somalia
• The new physical card is a first for MyBank in the country and will enable consumers to transact in-store at various points of sale and at ATMs
• The initiative is expected to contribute to significantly boosting digital payments penetration in Somalia and will be supported by an awareness programme, educating customers on the card benefits and usage

As part of continued efforts to expand access to the digital economy and drive financial inclusion in Somalia, MyBank, Mastercard, and Network International have partnered to launch a new Mastercard debit card that seamlessly enables online shopping in Somalia.

The new physical card is a first for MyBank in the country. It will enable consumers to transact in-store at various points of sale and ATMs while also giving them the ability to make online purchases through e-commerce …

• The Entrepreneur’s Odyssey is a mobile and tablet-friendly, a self-paced curriculum that includes online lessons across 21 modules with a total of 28 videos of approximately 20-30 minutes each
• Its launch comes at a time when the small business segment in the region has faced unprecedented changes in the wake of the COVID-19 pandemic, further fueled by the rapid acceleration of digital transformation and e-commerce

Mastercard Academy has launched ‘The Entrepreneur’s Odyssey’, a digital education platform that brings together a range of world-class academic and business resources to help small businesses learn and thrive.

The Entrepreneur’s Odyssey is a mobile and tablet-friendly, self-paced curriculum that includes online lessons across 21 modules with a total of 28 videos of approximately 20-30 minutes each.

According to Mastercard, the platform follows a five-pathway approach which is open to all aspiring and established entrepreneurs with no limits on the number of viewers and is …

• Mastercard Impact Fund has committed a initial philanthropic investment of $25 million 
• The company said small business owners are currently in need of innovative solutions
• It builds on Mastercard’s $250 million commitment to support small businesses’ financial security made last year

Mastercard, through the Center for Inclusive Growth, has launched a new program dubbed ‘Strive’, to strengthen the financial resilience of small businesses as well as support their recovery and growth.

In a statement, the company said the initiative, which is global, will help micro and small enterprises transition to using digital platforms and processes.

The technology company said the launch of the initiative comes at a time when there has been a rapid shift towards digital services, which was necessitated by the coronavirus pandemic.

An initial philanthropic investment of $25 million from the Mastercard Impact Fund has been committed to the initiative whose aim is to help more than …

Business confidence for Small and Medium Enterprise (SME) across most sectors is on the rise, according to the latest research by Mastercard.

The inaugural Mastercard Middle East and Africa (MEA) SME Confidence Index found that 76 percent of SMEs in the food, beverage and entertainment sector are optimistic about the next 12 months.

Confidence levels were highest among businesses in retail, closely followed by food, beverage and entertainment.

Forecasts in this sector are also positive, with 72 percent of SMEs projecting revenues that will either grow or hold steady. Almost half 47 percent are projecting an increase.

Access to training, skills and digitization key for future growth

As many regional economies gradually enter the normalization and growth phase, and social restrictions continue to ease, small and medium sized businesses in the MEA region’s food, beverage and entertainment sector have identified access to training and development support (55 percent), upskilling staff …