Browsing: Mastercard

• The AfDB has partnered with payments giant Mastercard and committed $300 million to MADE Alliance in a deal aimed at digitalizing farmers in Africa.
• Over three million farmers in East Africa are projected to benefit from the MADE Alliance project.
• Overall, MADE Alliance will provide digital access for 100 million people over the next decade.

A new initiative dubbed MADE Alliance, has set out to mobilizing resources in an effort to digitize farmers and their operations across Africa as the shift towards digital economy gathers pace.

In a deal being powered by the African Development Bank (AfDB) Group in partnership with digital payments giant, Mastercard, MADE Alliance, will see upto 300,000 farmers across East Africa benefit from the programme.

The project was launched on the sidelines of the 79th session of the United Nations General Assembly in September this year by the president of the AfDB, Dr. Akinwumi A. …

• Mastercard and the Uganda Ministry of ICT and National Guidance have signed an MoU that will support digital innovation 
• The agreement will accelerate the adoption of digital solutions in the country aimed at enhancing government services. 
• The deal is aligned with Uganda’s push for digital Innovation 

Mastercard and the Uganda Ministry of ICT and National Guidance have signed a Memorandum of Understanding (MoU) to accelerate digital innovation and transformation across the country.

This collaboration marks a significant milestone in the implementation of the ‘Digital Uganda Vision’, aimed at driving socio-economic development, enhancing services, and driving financial inclusion.

The signing of the MoU was witnessed by Chris Baryomunsi, Minister of ICT and National Guidance in Uganda, and Victor Ndlovu, Director and Business Development Lead for East Africa at Mastercard.

The agreement is aligned with Uganda’s digital transformation goals laid out in their Digital Uganda Vision. This vision will empower …

Competition in the remittance space has intensified with the entry of new players as the race for a share of the annual $95.6 billion in cross-border remittances flowing into Africa heats up. Airtel Africa has partnered with MasterCard to unveil a new service for cross-border remittances. Their deal will see customers in Kenya and 14 other African nations become the first beneficiaries of the service.

Airtel Africa and MasterCard will provide a seamless digital experience for consumers, connecting them with millions of peers worldwide. With a mushrooming diaspora community, remittances are now the largest source of forex in many African economies.…

• Due to their small footprint, traders are located closer to consumers, along transport hubs and routes, or within local communities. 
• Proximity also extends to knowing and stocking customer’s preferred brands and products and offering credit to loyal customers.
• United Nations Economic Commission for Africa indicates that small and local retail transactions account for 70 percent of total transactions in Kenya alone. 

Across East Africa, it is not uncommon to see dukas and kiosks around every other street corner offering some of life’s daily essentials such as sugar, soap, tissue paper as well as bread and milk. 

While they may not seem like much, East Africa’s dukas and kiosks are the backbone of the economy, providing jobs and basic essentials to millions of people.

According to EuroMonitor International, these spaces for trading can range from as little as 1sqm up to 30sqm. Due to their small footprint, traders are located closer …

• 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 …

• 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 …