One of the world’s leading digital payment solutions MasterCard has partnered with Wari, a digital payment, and money transfer service provider, to boost the acceptance of digital payments across 35 different countries across Africa.
The two firms will collaborate in providing citizens a secure, reliable, and easy to use financial solution that will end the use of cash.
“The partnership with MasterCard will provide us with the ability to boost digital payment acceptance in the markets that we operate,” said Kabirou Mbodje, the Wari CEO.
“With the MasterCard experience in securing payments across the world, customers can rest assured that their payment, whether done by card or mobile, will be secure.”
The partnership between the two companies has also born synergy of the two’s financial tools. Whereby Wari’s MyWari app will provide users direct access to MasterCard’s digital solution HomeSend. In this synergy, MyWari users will be able to receive and send money from a wider variety of payment options such as debit card, credit card, and cash.
In addition to the above advantages, MyWari users will get access to a virtual car solution that will give them access to funds linked to their prepaid/debit or credit physical card. They will also have access to MasterCard mobile payment solutions Masterpass QR that enables Small and Medium Enterprises (SMEs) access to low-cost means of accepting payment for their goods or services.
The basket of financial technology choice opened up by the partnership of MasterCard and Wari goes multiple steps towards a cashless economy. They even go beyond the conventional Point-of-Sale (POS) terminals.
Going forward, Wari will provide its customers a selection of MasterCard’s prepaid, debit, and credit cards. The cards come with EMV chips and pin technology to provide users an extra layer of security.
Daniel Monehin, the Division President for sub-Saharan African, MasterCard was quoted saying, “Our partnership with Wari illustrates how much the payment industry has evolved, and how Africa is at the forefront of driving the shift towards digital payments.”