Mastercard and MTN Group Fintech, a leading digital financial services arm of Africa’s largest mobile network operator, have joined forces in a landmark partnership.

This collaboration aims to drive the acceleration of the mobile money ecosystem across Africa, impacting 13 markets.

The partnership is designed to leverage Mastercard’s advanced technology and capabilities to support MTN’s ambition of becoming Africa’s largest Fintech platform, catering to both merchants and consumers. This initiative will connect millions to digital payment tools, expanding access to the benefits of a cashless economy and fostering financial inclusion across the continent.

Through this partnership, Mastercard will integrate its technology with MTN Group Fintech’s expansive network, which boasts 290 million subscribers and 60 million active monthly Mobile Money (MoMo) wallets.

The collaboration will introduce a prepaid virtual card for MoMo customers. Additionally, it will empower MoMo merchants with seamless card payment acceptance capabilities, bolstering instant cross-border money remittance services.

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