Telecom
Mastercard, MTN Partners to Enable Global e-Commerce Payments Across Africa
Mastercard and MTN have entered into a strategic partnership to enable millions of consumers in 16 countries across Africa make global e-commerce payments safely and securely.
Through a Mastercard virtual payment solution linked to MTN MoMo (Mobile Money) wallets, consumers and merchants can engage with brands and businesses abroad through digital commerce, extending their reach to an international marketplace and unlocking a host of opportunities.
Across Sub-Saharan Africa, mobile devices are the primary channel used to connect to the internet.
According to GSMA, by 2025, it is estimated that there will be 300 million more people using their devices to access internet services.
In light of this significant growth, mobile financial services have become the dominant form of digital payments, with twice as many mobile money accounts as bank accounts in the region. As a result, consumers increasingly expect to have access to a broader range of digital financial services.
However, consumers and merchants are mostly restricted to a local base of online and offline businesses, therefore curtailing customers’ ability to engage in global commerce.
Through this strategic partnership, MTN customers with a Mastercard virtual payment solution linked to their MoMo wallets can make payments to global online merchants through a seamless and secure digital payment experience on websites and mobile applications. The service is available regardless of whether or not the customer has a bank account.
The solution will enable consumers to explore and shop at well-known global e-commerce brands and pay quickly and securely for leisure shopping, travel, accommodation, entertainment, streaming services and more. It will also allow small business owners to purchase from suppliers abroad and pay with the virtual payment solution.
Serigne Dioum, chief Digital and Fintech Officer, MTN Group, said, “We are very excited about this partnership with Mastercard, which is another step in realizing our ambition to build Africa’s largest fintech platform, accelerating economic and social development through digital innovation to the benefit of citizens across the continent and beyond.
“This noteworthy partnership is another step to enable our customers to participate in the global economy.
“We are resolute that accelerated financial inclusion is a potent enabler of socio-economic development that empowers the most vulnerable in society,” he concluded.
Amnah Ajmal, executive vice president for Market Development, Mastercard Middle East and Africa, said: “This significant milestone will enable millions of MTN customers to benefit from global digital commerce and drive digital and financial inclusion across Africa through easy and secure access to financial services.
“At Mastercard, our innovation strategy is based on partnerships and collaboration. This agreement with MTN shows that we can deliver innovative digital solutions that have a far-reaching impact and realize the true potential of inclusive growth across the continent.
“Partnering with MTN allows us to accelerate our global pledge to connect 1 billion people to the digital economy by 2025, bringing us closer to a world beyond cash.”
MTN and Mastercard first launched the digital payment solution in 2018 for MoMo customers.
MTN, the largest mobile network operator, is the ‘Most Admired African Brand’ based on spontaneous consumer responses in Brand Africa 100: Africa’s Best Brands 2020 survey and the most valuable telecoms brand in Africa by Brand Finance Africa.
The company will extend the virtual payment solution offering throughout its Fintech footprint.
The expansion of this payment solution will play a significant role in driving the growth of digital inclusion and e-commerce thus increasing MTN MoMo customer inclusion into the global economy.
Initially designed to facilitate the transfer of cash between mobile users, MTN’s MoMo offering is now much broader – including loans, insurance, remittances and payments.
Galaxy Backbone (GBB), the information technology and shared services provider of the Federal Government of Nigeria, has announced the successful expansion of its state-of-the-art fibre optic network to Lagos, Ibadan, the capital of Oyo State in southwestern Nigeria, and Ilorin, capital of Kwara State in the north-central region.
What is described as a remarkable milestone is part of Phase II of the country’s National Information and Communication Technology Infrastructure Backbone (NICTIB) project.
With a robust cross-country optical fibre backbone now extending over 5,000 kilometres and across 27 state capitals, GBB says it has solidified its role as the digital backbone of Nigeria. This development seamlessly integrates the nation’s six geopolitical zones.
The newly completed Abuja-to-Lagos route, traversing key cities such as Minna, Bida, Mokwa, ilorin, Ogbomoso, Oyo, Ibadan and Lagos, is a strategic enhancement designed to strengthen network reliability. By establishing a closed network ring linking Lagos – the nation’s economic hub – to Abuja, the capital city, GBB says it ensures service redundancy and minimises potential downtime.
Professor Ibrahim A Adeyanju, managing director/CEO of Galaxy Backbone, says: “The expansion of our fibre optic network to Lagos, Ibadan and Ilorin is a significant step forward in our mission to bridge the digital divide and position Nigeria as a leader in the global digital economy. This advanced infrastructure empowers us to deliver innovative, customer-centric solutions that serve the needs of both the public and private sectors.”
He adds: “This expansion not only supports the government’s digital economy agenda but also sets the stage for meaningful collaboration with private sector organisations seeking to leverage our infrastructure.”
National Bureau of Statistics (NBS) has reported that over 25 million phone thefts between March 2023 and April 2024, according to its Crime Experience and Security Perception Survey 2024.
The Crime Experience and Security Perception Survey 2024, indicated that an estimated 17,965,741 people had their phones stolen during the reference period
Phone theft, which is a common individual crime in the country, shows that seven out of every 10 stolen phones happened at home or public places, with a mere 11.7% of people who reported to the police expressing satisfaction with their response.
Less than 10% of the victims of phone theft reported the case to the police, while over 90% failed to report to the police for various reasons.
“At the individual level, 21.4 per cent of Nigerians reported being victims of crime, and the most common crime was phone theft (13.8%),” the report read in part.
Airtel Nigeria has once again been recognized for its commitment to sustainable development, carting away the Partnership of the Year award at the 18th edition of the Sustainability, Enterprise, and Responsibility Awards (SERAS) held at the Oriental Hotel, Victoria Island, Lagos, on Saturday, 14th December, 2024.
The award celebrates Airtel’s continued success with its Re-imagine Education Initiative, a ground-breaking collaboration with the United Nations Children’s Fund (UNICEF) aimed at transforming education in Nigeria through technology.
Airtel’s consistent focus on creating social value through strategic partnerships reflects its position as a key enabler of progress in the Nigerian education sector.
Commenting on the award, Femi Adeniran, Director, Corporate Communications and CSR, highlighted the significance of the winning the Partnership of the Year award for the second time with the Airtel collaboration with UNICEF to provide digital access to quality educational resources for more than 1,200 schools in Nigeria.
“Winning this award for the second consecutive year is a reflection of our enduring belief in the transformative power of technology in education. We are deeply committed to making a meaningful difference in the lives of Nigerians, and this recognition fuels our resolve to do even more,” he said.
The SERAS Awards, widely regarded as Africa’s most prestigious platform for celebrating sustainability and corporate social responsibility, brought together leaders from various industries to honour organizations driving impactful change.
Airtel Nigeria remains steadfast in its mission to foster inclusive growth, empower communities, and champion a sustainable future for its stakeholders and the environment.
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