Mastercard, Orange partner to increase financial inclusion in seven African countries
A deal between Orange Middle East and Africa and Mastercard aimed at driving financial inclusion for millions of Africans across seven countries through digital payments is set to go operational next year.
The deal, described as one of the largest of its kind in sub–Saharan Africa, was concluded on October 29 and aims to ease payments for Orange digital wallet users through Mastercard’s network of merchants, according to a joint announcement.
Countries involved in the deal include Cameroon, Central African Republic, Guinea-Bissau, Liberia, Mali, Senegal and Sierra Leone.
Per the partnership, millions of Orange Money wallet users in these countries can make a request via the Max it Super App and have their wallets linked to virtual or physical Mastercard debit cards.
The users will then be able to make seamless payments both locally and internationally, enabling transactions with local merchants and on any website or mobile app that accepts Mastercard.
“This collaboration is an opportunity to bring top notch innovation to our customers, allow to pay with the Mastercard card linked to their Orange Money wallet when they travel internationally, and give them access to online shopping all over the world, in a simple and secure way,” says Aminata Kane, CEO of Orange Money Group for Middle East and Africa.
“By offering our users the ability to pay effortlessly with Mastercard virtual card, we open the door to a world of new possibilities and promote their financial independence.”
Also commenting on the partnership, Mastercard’s Executive Vice President in charge of Market Development for Eastern Europe, Middle East and Africa (EEMEA), Amnah Ajmal, said “At Mastercard, we are committed to advancing financial inclusion by leveraging cutting-edge technology to create meaningful, scalable impact.”
“Our collaboration with Orange Money represents a significant step in unlocking the full potential of digital financial services across Africa, enabling millions to participate in the global economy. This collaboration is a testament to our vision to building an inclusive digital ecosystem that leaves no one behind.”
The deal is seen as part of the push by Orange to drive financial inclusion by facilitating digital payments for around 37 million active mobile money users across the 17 countries in Africa and the Middle East where it has operations.
The partnership between Orange and Visa follows a recent financial inclusion deal which Visa struck with the United Nations Development Program (UNDP) to increase access to financial services in Somalia, especially for vulnerable persons and the underserved.
In August, Mastercard and Smile ID partnered to scale up merchant KYC in over 50 African countries, by making it easier for third-party partners such as banks, payment facilitators and mobile network providers, to conduct secure and convenient digital identity verification.
Article Topics
Africa | digital wallets | financial inclusion | Mastercard | Orange
Comments