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Ukheshe, Mastercard's Accelerate programme participant in South Africa, set to acquire Oltio

Friday 20 November 2020 13:00 CET | News

South Africa-based Ukheshe, a digital fintech platform provider, has announced it has entered into an agreement to acquire Oltio.

Oltio developed the digital payments platform that supports Masterpass, Mastercard’s QR payment service in South Africa. The service enables people to pay for a wide variety of purchases with their bank card by scanning a QR code with their mobile phone. 

Ukheshe has an established partnership with Mastercard, as it is a participant in Mastercard’s Accelerate programme – including Start Path and Fintech Express. The programme offers an access point for fintechs to tap into Mastercard’s technology, data, expertise, and global network of corporates.

Ukheshe will continue to provide the same support to the banks and other service providers that currently offer Masterpass, without interrupting business. The transaction is anticipated to close by the end of 2020.


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Keywords: Ukheshe, Oltio, Masterpass, Mastercard, QR, South Africa, cards, mobile payments, partnership,
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Africa
This article is part of category

Banking & Fintech