MasterCard extends its business in Africa

Thursday 6 March 2014 09:46 CET | News

MasterCard has extended its African reach by introducing its services on 7 new markets. The countries in question are Chad, Central African Republic, Guinea-Bissau, Liberia, Sierra Leone, Rwanda and Gambia and their addition to MasterCard’s network extends the company’s presence to 48 of the 55 markets that make up the continent.

The MasterCard acceptance network of ATMs and POS terminals has also increased to more than 58,000 ATM locations and 438,000 POS terminals across Africa. MasterCard is also introducing new technologies that are closing the gap between the banked and unbanked on the African continent. Alternative delivery channels pioneered by MasterCard such as m-commerce, e-commerce, contactless technology and digital wallet services, are helping financially-underserved consumers gain access to formal financial services.

In recent news, MasterCard and financial institution OTP Bank Hungary have launched OTPay, a digital wallet which is set to allow cardholders to shop and pay at 30,000 MasterPass accepting merchants around the world.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: MasterCard, online payments, Africa, point-of-sale, ATM, cash
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce