
Mastercard and MTN have announced an e-commerce payments partnership covering 16 countries across Africa. Through a Mastercard virtual payment system linked to MTN Mobile Money wallets, consumers and merchants can buy and sell online, also with businesses abroad. The service is available regardless of whether or not the customer has a bank account.
The system will enable consumers to explore and shop at well-known global e-commerce brands and pay quickly and securely for shopping, travel, accommodation, entertainment, streaming services and other products. It will also allow small business owners to purchase from suppliers abroad.
MTN will extend the virtual payment system throughout its mobile money footprint, which counts over 40 million users across Africa.