tanzania payment
Middle East & Africa Paytech Trending

Tanzania Payment Ecosystem Improved Following Three Way Partnership Including Mastercard

Tigo TanzaniaSelcom and Mastercard Inc. have announced a strategic partnership that will see the three industry leaders revolutionise the digital payment ecosystem. They will enable online payments globally through the Tigo Mastercard virtual service via the Selcom’s card-as-a-service (CaaS) platform.

This partnership will empower Tigo Pesa customers to transact on global payments platforms. They will also benefit from Mastercard’s technology which will enable new digital commerce opportunities for consumers and merchants, through simple and secure payment experiences.

The launch of the virtual card will ensure Tigo’s ability to provide its customers access to products and services previously a preserve of physical credit card holders. All the while diversifying its mobile money portfolio.

Additionally, the partnership will result in a wide range of digital payment solutions being introduced in Tanzania. It will connect Tigo customers in Tanzania to a global online market place across multiple digital payment use cases and provide access to Mastercard’s global network of merchants.

Simplifying payments

Tigo’s chief officer for mobile financial services (MFS) Angelica Pesha said: ”As the leading digital lifestyle company in Tanzania we are always on the lookout, for such partnerships. Our customers will now be able to complete online transactions that require Mastercard credentials. All while using funds from their Tigo Pesa wallets.

“It also means that this service will allow customers to quickly and conveniently pay for goods and services in the international market, we hope this partnership will improve user experience and accessibility to a vast array of MFS services”.

“This partnership further cements our position as a provider of choice for mobile financial services. We believe this venture will increase the number of transactions for cross-border business. This showcases that Tigo Pesa is a fully-fledged financial services in Tanzania.

“The virtual card allows for Tigo consumers to easily make payments at any online purchase point where Mastercard is accepted without the need for a bank account or credit card. To create the virtual card, customers should dial Tigo Pesa menu (*150*01#) or  use Tigo Pesa App and follow the simple steps. Once the card is created, the virtual card is ready for use for online payments,” remarked Pesha.

Empowering each other through partnerships

Selcom’s executive director, Sameer Hirji expressed his enthusiasm for the groundbreaking collaboration: “At Selcom, we take pride in our unwavering commitment to innovation and excellence in the payment industry. We are thrilled to join forces with esteemed partners like Tigo Pesa and Mastercard to unveil our state-of-the-art mobile money wallet-linked virtual card.

“By constantly investing in our infrastructure and refining our market presence, we aim to deliver cutting-edge, dependable solutions that foster growth and success for our partners and customers alike.”

Ngozi Megwa, senior vice president, digital partnerships EEMEA, Mastercard said: “Mastercard recognises that consumers today are looking for simple and secure financial products that add more value to their daily lives. Our innovation approach is focused on enabling the digital transformation of our partners so that millions of customers can enjoy seamless access to a global payments eco-system with a superior user experience.

“Our technology is fully equipped to empower our partners to launch innovative and relevant solutions that will create a strong value proposition for all our customers. With our deepened relationships with the telecommunications industry players, this partnership with Tigo embeds our commitment further to expand customer choice and access to digital commerce.”

Author

  • Francis is a journalist and our lead LatAm correspondent, with a BA in Classical Civilization, he has a specialist interest in North and South America.

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