Mastercard and Zamtel partner to transform payments in Zambia
By Pavithra R
Mastercard and Zamtel has announced entering into a strategic partnership that will enable Zamtel Mobile Money customers to make safe and seamless digital payments on the Mastercard network including international e-commerce transactions.
Under the collaboration, , Zamtel will launch a suite of Mastercard products including a Mastercard virtual solution, a physical debit card, and Mastercard QR, giving its Mobile Money customers new ways to access and pay for products and services to merchants accepting Mastercard in Zambia and abroad.The move expects to drive financial inclusion and improve access to the digital economy.
“We are very excited about this partnership with Mastercard, which is another step in realizing our ambition to become a digital lifestyle partner of choice. With access to Mastercard’s unrivalled network of merchants, this partnership instantly increases the ecosystem of locations where our mobile wallet can be used, bringing greater convenience, more choice, and an enhanced user experience for our customers,” said Zamtel Chief Executive Officer Sydney Mupeta.
With a Mastercard virtual (non-plastic) payment solution linked to Zamtel Mobile Money wallets, consumers and small businesses can make payments to local and global online brands and merchants, thereby expanding their reach to an international online marketplace. The integration makes possible instant ecommerce transactions through mobile wallets for a wide variety of payments ensuring that the customer’s financial data is secure and private.
For in-person payments, Zamtel Mobile Money customers will obtain a physical Mastercard debit card linked to their Zamtel Mobile Money wallet, which they can use to withdraw money from ATMs and pay at point of sale for goods, services and settle their bills. Customers will also have access to Mastercard QR, an interoperable payment solution that will enable them to make face-to-face payments at outlets by scanning the Mastercard QR code displayed at checkout or by entering a merchant identifier.
“As more consumers embrace online and digital experiences, new digital payment partnerships are evolving, which are transformative for the growth of economies. We are pleased to advance our digital partnerships strategy in MEA with Zamtel, as we support their digital transformation and bring more seamless payment experiences to their customers. Telcos play a critical role in enabling the digital economy and hence are a critical partner for us to drive the financial inclusion agenda forward,” said Amnah Ajmal, Executive Vice President for Market Development, Mastercard Middle East and Africa.
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