Mastercard acquires South Africa-based Oltio digital payments company

Tuesday 6 March 2018 | 11:11 CET | News
Mastercard has completed its acquisition of mobile payments technology company Oltio from Standard Bank Group. Mastercard already had a longstanding relationship with Oltio, a start-up that developed and patented several mobile payments and banking services, including an authentication system. The service enables consumers to authenticate Masterpass digital wallet purchases in South Africa using their bank PIN and mobile phone.  

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Categories: Mobile & Wireless
Companies: MasterCard
Countries: Africa / Middle East
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Direct Pay Online re-brands southern African providers as PayGate

Published 11 Apr 2018 09:58 CET | Africa
DPO Group (Direct Pay Online) is rolling up its southern African payment service providers (PSPs) into the consolidated brand of ...

Mastercard integrates digital and physical payment teams

Published 09 Mar 2018 08:56 CET | World
Mastercard has announced the integration of its physical and digital payments teams under one organisation, coming into effect 02 ...

Kalon invests ZAR 10 mln in South Africa's i-Pay

Published 27 Nov 2017 09:31 CET | South Africa
South African electronic payments specialist i-Pay has secured ZAR 10 million in venture capital funding from Kalon Venture ...

Mastercard partners with Spazapp to m-payments to informal traders

Published 14 Nov 2017 13:46 CET | South Africa
Mastercard is collaborating with South Africa's-based tech company Spazapp to bring secure, seamless and convenient mobile ...

Zapper introduces mobile payment starter packs for small merchants

Published 14 Sep 2017 09:29 CET | South Africa
South African mobile payment and loyalty rewards app Zapper has introduced mobile payment starter packs for SMEs, reports ITWeb. ...

Mastercard inks payment deal with MultiChoice

Published 01 Mar 2017 16:27 CET | South Africa
Mastercard has announced a new solution for South Africa-based MultiChoice customers to quickly and conveniently pay their ...

MTN decommissions mobile money service

Published 15 Sep 2016 18:57 CET | South Africa
MTN South Africa said it has decided to decommission its Mobile Money due to a lack of commercial viability but promised to ...

Absa launches Masterpass application

Published 22 Jul 2016 13:15 CET | South Africa
South African bank Absa has launched the Absa Masterpass App, a digital wallet powered by Mastercard, enabling customers to make ...

IPS, Oltio sign licensing agreement

Published 21 Feb 2013 16:02 CET | South Africa
Oltio, a South African technology company focusing on developing mobile payment solutions, has signed an agreement with ...

MasterCard launches mobile payment in South Africa

Published 19 Apr 2012 12:57 CET | South Africa
MasterCard and Oltio, a joint venture between MTN and Standard Bank, have introduced MasterCard Mobile to the South African ...

MTN's Oltio inks mobile payment deal with PayU

Published 30 Mar 2012 12:33 CET | South Africa
Standard Bank and MTN joint venture Oltio has joined forces with PayU to bring debit card payments to consumers through Oltio's ...