OPay and Mastercard partner to drive financial inclusion

Friday 20 May 2022 09:30 CET | News

Egypt-based fintech OPay has teamed with Mastercard to increase financial inclusion by opening up ecommerce to people across Middle East and Africa.

The collaboration enables OPay consumers and merchants in the region, including Algeria, Morocco, Egypt, Nigeria, Ethiopia, Kenya, Pakistan, South Africa, and the UAE, to engage with brands and businesses anywhere across the globe, thanks to a Mastercard virtual payment solution linked to the OPay e-wallet.

This partnership is the latest developtment in Mastercard's emerging market strategy where the technology company is collaborating with growing fintech's such as OPay to expand access to digital payments, enable multiple lifestyle services, create new pathways to financial inclusion, and support the next generation of super-apps.

In the initial phase of this partnership, OPay customers will benefit from the Mastercard virtual payment solution linked to their OPay wallets, to shop at well-known global brands for leisure, travel, accommodation, entertainment, streaming services, and more. The service is available regardless of whether or not the customer has a bank account. It also allows small business owners to purchase from suppliers abroad and pay with the secure virtual payment solution.

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Keywords: MasterCard, partnership, financial inclusion, digital wallet, virtual card, ecommerce
Categories: Payments & Commerce
Companies: Mastercard, OPay
Countries: Africa, Middle East
This article is part of category

Payments & Commerce




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