MTN MoMo South Africa has expanded its strategic collaboration with global payments network Mastercard.
In a statement, MTN says this collaboration builds on existing efforts to broaden access to digital financial services and support greater financial inclusion across South Africa.
It explains this brings together MTN MoMo’s local reach with Mastercard’s technology, enabling more South Africans to access and benefit from the digital economy.
It will see new features added to the MoMo platform, including the ability for users to top up their MoMo Wallet using debit and credit cards via Mastercard’s Payment Gateway.
“Our goal is to make digital financial services more accessible, secure and relevant to the everyday needs of South Africans,” says Kagiso Mothibi, CEO of MTN Fintech SA.
Gabriël Swanepoel, country manager for Southern Africa at Mastercard, says “Security is central to MTN’s offering. By integrating Mastercard’s advanced fraud monitoring tools, we are strengthening protection for users and building greater trust in digital financial services.
“These enhancements incorporate Mastercard’s tokenisation security technology, which replaces sensitive payment card details such as the 16-digit card number, expiry date and CVC with a unique digital identifier called a token. This supports secure, one-click top-ups and offers users faster, more convenient MoMo Wallet funding with higher transaction success rates.”
Mothibi notes that many South Africans have limited or no credit history, and using the MoMo Wallet can help them build a financial profile and access services that were previously unavailable.
The partnership will continue to develop based on customer needs, emphasising secure, app-based features for South Africa’s digital economy, the companies say.
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