back Back

Mastercard & EMIS team to bolster digital economy in Angola

By Delisha Fernandes

August 11, 2023

  • Cardholders
  • contactless card
  • Digital Transformation
Share

MastercardMastercard has announced a strategic partnership with the Empresa Interbancária de Serviços S.A (EMIS) to roll out a co-branded contactless card with EMV technology to boost the digital economy and accelerate digital transformation in Angola.

The partnership enables cardholders, including consumers and small business owners in Angola, to have one card that makes cross-border payments (within and outside Angola), thus aiding in developing an interoperable payment system.

Additionally, the partnership represents a positive development for financial institutions, as they will have cost synergies and access to Mastercard’s world-class technology for their domestic market and cards going forward, powering the existing local domestic scheme in the process.

Angolan banks can utilise Mastercard’s loyalty platform, national fraud and risk management solution, and Mastercard Payments Gateway Services to support e-commerce businesses and process online transactions.

Mark Elliott, Division President, Sub Saharan Africa, at Mastercard, said, “At Mastercard, our innovation strategy includes collaborating with like-minded partners to power an inclusive, digital economy that benefits everyone, everywhere. Our partnership with EMIS demonstrates our commitment to supporting key stakeholders worldwide to create an interconnected global payments ecosystem that benefits an array of consumers with unique needs.”

EMIS is the financial infrastructure operator of the Angolan Payment System, responsible for the interbank network for the network of ATMs and Point-of-Sale (POS) terminals. It is also the clearing house for banks’ direct debit and funds transfer operations and a Mobile Virtual Process Operator (MVPO) in Angola.

José Matos, Chief Executive Officer at EMIS, said, “Angola continues to make significant progress in the financial services sector, and our partnership with Mastercard seeks to accelerate this growth. Through the partnership, we are committed to introducing the broad benefits of a full-fledged interoperable payment system as soon as possible, creating an inclusive digital and financial ecosystem for Angolans.”

Previous Article

August 10, 2023

PayTech payabl. secures EMI licence in the UK

Read More
Next Article

August 11, 2023

SBI Card joins NPCI to facilitate its RuPay Credit Cards on UPI

Read More






IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

February 10, 2025

Financial Cloud integrates GoCardless for seamless payments in the UK

Read More

February 10, 2025

Faysal Bank selects Alliance Network to boost digital payments in Pakistan

Read More

February 10, 2025

ACI Worldwide partners with Banfico to tackle APP fraud in Europe

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q4 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2024
Know More