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Airtel, Master partner to transform digital payments

AIRTEL Tanzania has partnered with MasterCard to launch virtual card that will enable Airtel Money customers pay for services, goods, apps, hotel or travel and digital content through any online merchants globally accepting payments from Master- Card.

Airtel Tanzania Director of Airtel Money Services, Isaack Nchuda said in Dar es Salaam yesterday that Airtel customers, powered by MasterCard will be able to enjoy private, secure and seamless digital payments through this partnership.

“We are currently living in a world where payments are processed every second and mobile money transactions are also on the increase. Our partnership with MasterCard will help us accomplish our vision of providing unique and affordable services and products which fit in to the daily lives of customers. The launch of this Airtel Money MasterCard Virtual card shows our commitment to support the government’s ongoing financial inclusion initiatives,” he said.

Airtel Money customers will also be able to make in-person payments at outlets via Quick Response (QR) codes whereby payments are made from an Airtel Money wallet by scanning the QR code displayed at checkout or by entering a merchant short code, at any location that Master- Card QR is accepted.

The launch is aimed at further promoting and deepening financial inclusion among Tanzanians.

As per the latest statistics from the Tanzania Communications Regulatory Authority (TCRA), Tanzania has more than 22.9 million mobile money subscriptions with total mobile money transactions value pegged at more than 8tri/-by June 2019.

In recent years, mobile money has evolved from traditional payments such as domestic remittances and airtime top-ups, to more complex financial products.

The virtual card allows for Airtel consumers to easily make payments at any online purchase point where MasterCard is accepted without the need for a bank account or credit card.

Speaking at the same event, Adam Jones, Vice-President and Area Business Head, East Africa, MasterCard said the partnership with Airtel will enable financial inclusion and access for millions of consumers in the country.

“Through our digital partnerships strategy, our aim is to continue offering easy, convenient and secure payment solutions that accelerate Tanzania’s digital transformation,” he said.

In an evolving ecosystem, MasterCard is well positioned as a one-stop payments technology provider to lead the transition to digital for our partners across the Middle East and Africa, so that their consumers can enjoy a superior and world-class payments experience.

“Mobile money has already helped reduce transaction costs, improve safety for individuals and businesses, and enhance the efficiency of the economy by reducing the need for users to travel long distances to bank branches to make transactions in person. The Airtel Money MasterCard Virtual card will extend the usage of the Airtel Money wallets to global online payments,” Jones added.

Airtel Money Tanzania is currently connected to over 1,000 billers including utility service providers and is also integrated with over 40 financial institutions which allow customers to make withdrawals and savings.

In addition, Airtel Tanzania is rapidly expanding across the country with more than 800 Airtel Money branches providing all Airtel services and products.

THE African Development Bank has invested 50 million ...

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Author: DAILY NEWS Reporter

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