Mastercard deal gives Airtel a global reach
Dar es Salaam. Airtel Tanzania has today November 11, announced a partnership with Mastercard, launching a virtual card that will enable Airtel Money customers to pay for services, goods, apps, hotel or travel, and digital content, through any online merchants globally that accept payments from Mastercard.
Powered by Mastercard’s global-best technology, Airtel Tanzania customers will be able to enjoy private, secure and seamless digital payments through this partnership.
In addition, Airtel Money customers will also be able to make in-person payments at outlets via Quick Response (QR) codes.
The launch is aimed at further promoting and deepening financial inclusion among Tanzanians.
Latest statistics from the Tanzania Communications Regulatory Authority (TCRA), Tanzania has more than 22.9 million mobile money subscriptions with total mobile money transactions value pegged at more than TZS 8 trillion by June 2019.
In recent years, mobile money has evolved from traditional payments such as domestic remittances and airtime top-ups, to more complex financial products.
Speaking in Dar es Salaam, during the launch of the Airtel Money Mastercard Virtual card, Airtel Tanzania director of Airtel Money Services, Isaack Nchuda said in today’s world payments are processed every second and mobile money transactions are on the increase.
“Our partnership with Mastercard will help us accomplish our vision of providing unique and affordable services and products which fit in to the daily lives of customers. The launch of this Airtel Money Mastercard Virtual card shows our commitment to support the Government’s ongoing financial inclusion initiatives,” he said.
The virtual card allows for Airtel consumers to easily make payments at any online purchase point where Mastercard is accepted without the need for a bank account or credit card.
Speaking at the same event, Adam Jones, Vice President and Area Business Head, East Africa, Mastercard said the partnership with Airtel will enable financial inclusion and access for millions of consumers in the country.
“Through our digital partnerships strategy, our aim is to continue offering easy, convenient and secure payment solutions that accelerate Tanzania’s digital transformation. In an evolving ecosystem, Mastercard is well positioned as a one-stop payments technology provider to lead the transition to digital for our partners across the Middle East and Africa, so that their consumers can enjoy a superior and world-class payments experience,” said Mr Jones.
Jones added: Mobile money has already helped reduce transaction costs, improve safety for individuals and businesses, and enhance the efficiency of the economy by reducing the need for users to travel long distances to bank branches to make transactions in person. The Airtel Money Mastercard Virtual card will extend the usage of the Airtel Money wallets to global online payments.
Airtel Money Tanzania is currently connected to over 1000 billers including utility service providers and is also integrated with over 40 financial institutions which allow customers to make withdrawals and savings. In addition, Airtel Tanzania is rapidly expanding across the country with more than 800 Airtel Money branches providing all Airtel services and products.
