Safaricom, a prominent telecommunication leader in East Africa, and Mastercard, a global pioneer in payment technology, have announced a new partnership aimed at transforming the payment acceptance and cross-border remittance landscape in Kenya.
The collaboration is primarily focused on accelerating the adoption of payment acceptance and enhancing remittance services across the country.
By integrating Mastercard’s global payment infrastructure with Safaricom’s extensive M-PESA merchant network, the partnership aims to provide seamless, secure, and scalable payment solutions. This initiative is set to empower over 636,000 merchants, enabling them to connect with global markets and streamline cross-border transactions.
Safaricom’s role in the partnership centres around its M-PESA service, a leading mobile money platform in Kenya that has significantly shaped the local payment system. The company aims to expand its merchant services by incorporating Mastercard’s omnichannel payment solutions, enhancing the capability to accept digital payments and facilitate smoother transactions.
Mastercard’s contribution involves integrating its robust global payment infrastructure to support Safaricom’s digital payment initiatives. The integration is designed to foster easier, faster, and more reliable cross-border money transfers, boosting economic activities and supporting local merchants in Kenya.
Mastercard Executive Vice President, EEMEA, Amnah Ajmal said, “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.”
Safaricom Plc Chief Financial Services Officer, Esther Waititu commented, “This collaboration with Mastercard unlocks new opportunities for M-PESA merchants, aligning with our mission to deliver innovative, customer-centric products. By combining our expertise with Mastercard’s global acceptance network, we are enabling businesses to provide more efficient and frictionless payment solutions to their customers, both in Kenya and beyond.”
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