Mastercard and MTN Group have announced a partnership that seeks to enable millions of MTN MoMo customers in 16 African countries to shop and pay online with global merchants. Through a Mastercard virtual payment solution linked to MTN MoMo wallets, customers can now shop from their favorite international brands online while in their home countries or traveling abroad.
Through this strategic partnership, MTN customers with a Mastercard virtual payment solution linked to their MoMo wallets can shop on global platforms regardless of whether or not they have a bank account.
The MTN MoMo virtual payments solution will enable consumers to explore and shop at well-known global e-commerce brands and pay quickly and securely for leisure shopping, travel, accommodation, entertainment, streaming services, and more. It also allows small business owners to purchase from suppliers abroad and gain access to a range of additional financial services and solutions.
Back in 2018, MTN Uganda unveiled a virtual payment gateway called MTN MoMocard that is aimed at enabling quicker and more secure online payments globally. This was facilitated by a partnership with Mastercard and United Bank for Africa (UBA).
Customers can create an account by dialing 165*70# and then following the steps, with the account linked to one’s MTN MoMo account.
Recently, Airtel Uganda also partnered with Mastercard to unveil its virtual debit card. Dubbed the ‘Airtel Money Mastercard’, the card is designed to offer Airtel Money customers a safe, convenient and secure platform to transact online globally.
The product is a virtual card that allows Airtel Money customers, including those without a bank account, to make payments to local and global online merchants that accept Mastercard. These include platforms like Netflix, Uber, Amazon, Google Play, AliExpress, Alibaba, while ensuring that the customer’s financial data is always secure and private. All transactions have a maximum charge of UGX 1,000.