PesaLink has announced an MoU with Mastercard, which will see the two firms create digital payment solutions and boost the adoption and usage of digital payments in Kenya.
The MoU implies that PesaLink will take advantage of MasterCard’s tech, partnership, and expertise to go past person-to-person payments. Some of the new features and use cases introduced include direct-to-consumer digital proposition (app, USSD, web, etc.), agent banking and solutions for business and government payments, collections, and disbursements, both face to face and remote, among others.
Besides offering cyber intelligence solutions, Mastercard will also provide advisory and technical support to advance PesaLink’s new strategy.
The MOU aligns with Mastercard’s focus on localizing its solutions to address specific market needs and shows a deep understanding of the dynamics of the banking ecosystem in Kenya.
“The payments landscape in Kenya is developing rapidly, and customer demands are growing. To deliver the choice, security, and flexibility that Kenyans need – and increasingly expect – we are delighted to collaborate with Mastercard to create a range of payment solutions that are easy to access, secure, affordable, and always available.
“This collaboration with Mastercard is pivotal in providing millions of Kenyans with financial solutions that meet their needs, furthering our goal to accelerate the adoption and usage of digital payments in the country,” said Gituku Kirika, CEO of PesaLink.
”This collaboration with Mastercard is pivotal in providing millions of Kenyans with financial solutions that meet their needs, furthering our goal to accelerate the adoption and usage of digital payments in the country,” he added.
Mastercard’s commitment to financial inclusion means the company is actively leveraging the latest technology to simplify and reduce transacting costs.
“Our strategy remains focused on enabling digital transformation for our partners so that their customers enjoy a more seamless experience when transacting across different platforms and channels. We are very excited to collaborate with PesaLink to lead the transition to a more inclusive digital payments system – and to do it in a way that helps society at large. This marks a significant step towards greater consistency, security and speed for making everyday payments while laying the groundwork for future innovation,” said Shehryar Ali, Mastercard Country Manager for East Africa.