The post Mastercard and Safaricom Partner to Enhance M-Pesa Payments and Cross-Border Transfers in Kenya appeared on BitcoinEthereumNews.com.

Mastercard and Safaricom have joined forces to enhance payment acceptance and cross-border remittance services in Kenya. This strategic alliance aims to benefit over 636,000 merchants utilizing Safaricom’s mobile money platform, M-PESA. The collaboration will leverage M-PESA’s widespread merchant network and Mastercard’s global payment infrastructure to provide seamless and secure payment solutions. Mastercard and Safaricom partner to revolutionize digital payments in Kenya, fostering greater economic inclusion and cross-border commerce efficiency. Mastercard and Safaricom: A Groundbreaking Partnership in Digital Payments Mastercard, a global leader in payment solutions, has entered into a strategic partnership with Safaricom, Kenya’s largest mobile network operator. This collaboration is set to significantly enhance the payment acceptance mechanisms and cross-border remittance services within Kenya. By integrating Safaricom’s M-PESA with Mastercard’s global infrastructure, the partnership aims to create an inclusive, efficient, and secure payment ecosystem that will benefit over 636,000 merchants and countless consumers. Enhancing Payment Solutions for Kenyan Merchants Through this alliance, M-PESA merchants can leverage Mastercard’s technology to provide improved payment solutions. The integration is designed to facilitate seamless transactions, allowing local businesses to expand their reach beyond domestic boundaries. By offering secure and reliable payment options, the partnership will help Kenyan merchants serve a global customer base. This move is not only a significant stride towards financial inclusion but also a boost to the country’s economic growth. Boosting Cross-Border Remittances The partnership is also set to revolutionize the landscape of cross-border remittances in Kenya. Traditionally, cross-border transactions have been fraught with challenges including inefficiencies and high costs. However, by leveraging Mastercard’s extensive payment network, Safaricom intends to offer more affordable and faster remittance options. This will simplify the process for individuals and businesses alike, making international money transfers more convenient and accessible. Supporting an Inclusive Digital Economy Amnah Ajmal, Executive Vice President at Mastercard EEMEA, emphasized the…

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Filed under: News - @ September 20, 2024 5:15 am