The platform facilitates the buying and selling of various products, including electronics, groceries, fashion, and beauty items, with features such as secure payments and delivery services.The initiative is intended to enhance digital commerce in Uganda by offering merchants better market access and improving consumer purchasing options.
Representatives from Paysky stated that the company has worked to expand digital financial services across the Middle East and Africa since its establishment in 2017. They noted that the partnership with MTN aligns with this objective by introducing secure and adaptable payment infrastructure to Uganda.
Paysky has supported financial inclusion efforts in Africa by providing digital financial service platforms to central banks in multiple countries. These initiatives have contributed to national programmes aimed at increasing access to digital payments. The company views Market by MoMo as a continuation of its efforts to strengthen digital ecosystems and support small businesses in the region.
Officials highlighted that Paysky’s payment infrastructure plays a role in ensuring the efficient operation of ecommerce platforms such as Market by MoMo, allowing businesses to expand and improve financial stability.
Representatives from MTN Mobile Money Uganda described the platform as a step toward supporting a more connected and inclusive digital economy in Africa. MTN Fintech officials emphasised the importance of collaboration in launching the platform, noting that it connects merchants with a large customer base.
Beyond Uganda, Paysky and MTN Group Fintech plan to extend Market by MoMo to other countries where MTN operates. The expansion is expected to provide digital marketplace access to a wide user base across Africa, allowing businesses to reach new markets and offering consumers secure and flexible payment options.
The collaboration between MTN Group Fintech and Paysky is part of an effort to improve digital financial services and support ecommerce growth in the region. In essence, the companies aim to increase financial inclusion and create new opportunities for both businesses and consumers.
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