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Zambia: MasterCard partners Zamtel to transform payments

MasterCard Partners with Zamtel to Transform Payments in Zambia. Partnership expected to drive financial inclusion and improve access to the digital economy.

According to reports, Zamtel and MasterCard have announced a strategic partnership that will allow Zamtel Mobile Money customers – even those without bank accounts - to make safe and seamless digital payments on the MasterCard network, including international e-commerce transactions.

The partnership is expected to accelerate financial inclusion and scale access to the digital economy. Zamtel will launch a series of MasterCard's products through this partnership, including a MasterCard virtual solution, a physical debit card, and MasterCard QR. This will help provide new ways to access and pay for products and services at the millions of merchants that accept MasterCard in Zambia and abroad.

Commenting on the partnership, Zamtel Chief Executive Officer Sydney Mupeta said, “We are very excited about this partnership with MasterCard, which is another step in realizing our ambition to become a digital lifestyle partner of choice.

"With access to MasterCard's unrivalled network of merchants, this partnership instantly increases the ecosystem of locations where our mobile wallet can be used, bringing greater convenience, more choice, and an enhanced user experience for our customers,” Mupita added.

Zamtel Chief Executive Officer Sydney Mupeta|Source:Techwatch News

Zamtel is Zambia's only total communication solutions provider. The Zambian Government solely owns it through the Industrial Development Corporation, providing voice, data, fixed, internet, MPLS and business continuity services to businesses and individual customers in Zambia.

As more consumers embrace online and digital experiences, Amnah Ajmal, Executive Vice President for Market Development, MasterCard Middle East and Africa, said, new digital payment partnerships are evolving, which are transformative for the growth of economies.

"We are pleased to advance our digital partnerships strategy in MEA with Zamtel, as we support their digital transformation and bring more seamless payment experiences to their customers. Telcos play a critical role in enabling the digital economy and hence are a critical partner for us to drive the financial inclusion agenda forward," Amnah added.

Zambia in focus

GDP: $23.31 billion compared to Cameroun's $39.007 billion in 2019

Population: 17,861,030 compared to Cameroun's 25,876,380 in 2019

GDP per capita: $1,305 compared to Cameroun's $1,5o7 in 2019