MasterCard and MTN have come to a conclusion of a strategic partnership to allow millions of MTN mobile money customers in African countries to shop and pay online with global merchants.
Using the MasterCard virtual payment solution linked to the MTN MoMo wallets, clients can unlock a host of opportunities and shop from their online stores from their comfort zones.
The announcement was made when e-commerce and online shopping are reaching record levels round Africa. According to the economy outlook carried out by MasterCard Economic organization, 20 – 30% of the COVID 19 related surge in e-commerce will remain a stable feature of overall retail spending
With the knowing that mobile device are the major and most used source of accessing the internet, therefore shopping through mobile would be one great way clients can access these opportunities
GSMA said, there will be 300 million people using their devices to access the internet by 2025, and by this, mobile financial services have become the dominant form of digital payments, with doubled mobile money accounts as bank accounts in the region.