October 20, 2020

Mastercard, Samsung, Airtel partner on pay-on-demand services

Mastercard has announced a partnership with Samsung, Airtel Africa and Asante Financial Services Group to launch a pay-on-demand payments platform in Africa. The platform, built by Mastercard Labs, aims to bring convenient financing opportunities to consumers, entrepreneurs and merchants across Africa to acquire Samsung mobile devices. Asante will provide insight as a provider of digital financial services, and Airtel Africa will coordinate the delivery of the product. 

This partnership will help to deliver convenient asset financing to consumers and SMEs through their smart handsets at a low upfront cost while distributing payments over time. The individual or business will establish a digital transaction history, which can be leveraged for making other financing solutions accessible, such as credit, savings, investments and insurance.

The companies are planning to roll out the service in 14 markets considered across Africa, piloting first in Uganda in October, subject to regulatory approvals. This partnership builds on the broader digital transformation partnership between Mastercard and Airtel Africa across sub-Saharan Africa. The other markets include Tanzania, Rwanda, Kenya, Nigeria, DRC, Gabon, Malawi, Zambia, Madagascar, Seychelles, Chad, Niger and Congo Brazzaville. This partnership also builds on the global partnership with Samsung to provide pay-on-demand mobile devices.

 

Source Article