The partnership offers a payment card linked to subscribers’ existing accounts. The MTN MoMocard provides online payments globally through the “vast network” of outlets accepting Mastercard payments. The card is meant to deliver a similar portfolio of services to credit or debit cards, and the collaboration aims to launch a range of digital payment solutions in Uganda.
Wim Vanhelleputte, CEO of MTN Uganda, affirms the card builds on the operator’s existing range of mobile financial services, which impacts communities in the country. The card is linked to a subscriber’s existing MTN Uganda mobile money account, but can be accessed on any mobile phone.
Ngozi Megwa, VP of market development for Sub-Saharan at Mastercard, suggests that the virtual card supports the growth of ecommerce in Africa and opens the door to a wider audience for businesses seeking growth.
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