Mastercard and its strategic partner, Network International, have come together to accelerate digital payments in the Middle East and Africa.
The platform enhances mobile-based payments for consumers and allows merchants access to various channels.
The solution will initially be launched across 40 African countries including Nigeria, Kenya, Ghana and South Africa and will be extended across the rest of Middle East and Africa in the coming months.
Gaurang Shah, Senior Vice President, Product Management, Digital Payments & Labs, Middle East and Africa, Mastercard commented: “Accelerated adoption of digital payments means more consumers and businesses are enabled to benefit from a growing digital economy and a world beyond cash.
“Mastercard’s trusted, secure technology will be available to more people through this digital platform and we are very proud to activate this important initiative with Network International as our long-term strategic partner.”
Merchants will now have one efficient technology interface through which they will be able to accept multiple payment types, ranging from USSD, Quick Response (QR) to Standard POS and ecommerce, with mobile money and Tap on Phone (technology which allows merchants to accept contactless card payments directly on their smartphone or tablet) coming online later in 2021.
“Our partnership with Mastercard is focused on rapidly growing electronic payment usage across our region and this initiative is a major foundational step in meeting that goal,” added Paul Clarke, Group Head of Product & Innovation, Network International.
“We believe the launch of this platform is the first in a series of steps towards delivering simplified, collaborative payment solutions across the payments value chain in the Middle East and Africa. We have plans to grow the platforms’ capabilities so that we can help our joint customers, large and small, accelerate the move from cash to digital solutions.”