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Mastercard and Safaricom team up to improve cross-border payments

Mastercard and Safaricom team up to improve cross-border payments

GrafaGrafa2024/09/20 05:25
By:Mahathir Bayena

Mastercard has partnered with Safaricom to enhance payment acceptance and cross-border remittance services in Kenya. 

This collaboration will benefit over 636,000 merchants using Safaricom’s mobile money platform, M-Pesa, enabling them to serve customers globally with more secure and efficient payment solutions. 

The partnership aims to leverage M-Pesa’s wide merchant network and Mastercard’s global payment infrastructure, allowing seamless cross-border transactions. 

This will streamline payments for businesses and improve the remittance services provided to Kenyan customers. 

Amnah Ajmal, Executive Vice President at Mastercard, highlighted the importance of the partnership in fostering an inclusive digital economy. 

"We are proud to partner with Safaricom to build an inclusive digital economy that works for everyone, everywhere. We will enable the merchants to grow and contribute to the Kenyan economy," Ajmal stated. 

Through this integration, Safaricom will enhance its ability to support digital payments and cross-border money transfers for its merchants. 

Esther Waititu, Chief Financial Services Officer at Safaricom, emphasised that the partnership aligns with the company’s goal of delivering innovative and customer-centric solutions. 

Safaricom PLC, headquartered in Nairobi, Kenya, is a listed mobile network operator and a major player in the telecommunications sector in East and Central Africa.

Mastercard Inc. is a global payment services corporation based in Purchase, New York, offering payment transaction processing and related services worldwide.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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