kennedy0000
JF-Expert Member
- Apr 14, 2012
- 4,349
- 3,745
Mastercard partners with Vodacom to introduce first online card in Tanzania
Mastercard partners with Vodacom to introduce first online card in Tanzania
- Thread starter Geza Ulole
- Start date
Hamster255
JF-Expert Member
- Mar 19, 2018
- 843
- 415
Equity subsidiary eyes rival banks with e-commerce payments linkMastercard partners with Vodacom to introduce first online card in Tanzania
COMPANIES / 11 SEPTEMBER 2018, 7:00PM / ANA REPORTER
FILE PHOTO: Illustration photo of a Mastercard logo on a credit card
JOHANNESBURG - Mastercard has teamed up with Vodacom to introduce the first online card in Tanzania – the M-Pesa virtual card, the companies said on Tuesday.
The virtual card will allow M-Pesa mobile wallet holders to make payments on any local or international website or app where Mastercard is accepted for payment, without the need for a bank account or credit card.
"Vodacom’s M-Pesa is already an industry trailblazer with over 8.2 million subscribers and over 100,000 agents countrywide that enable citizens to transact safely and easily, but customers are limited when it comes to making online payments on international websites," Vodacom Tanzania acting managing director Hisham Hendi said.
"The introduction of this functionality through the M-Pesa virtual card will revolutionize how people transact by removing the barrier of having bank accounts and risk of putting bank details online."
Africa's mobile internet connections are expected to grow rapidly due to affordable smartphones and high-speed networks being rolled out by mobile network operators like Vodacom, creating a demand for digital content, social media, m-commerce and even online education and a need to make payments easily and securely.
“The continued roll out of innovative technology solutions in the e-commerce space represents an opportunity for greater financial inclusion and means that more people will be able to make payments, without the inconvenience of cash," said Raghav Prasad, Mastercard division president in sub-Saharan Africa.
"With 60 percent of these transactions happening on mobile platforms, the future of financial inclusion undoubtedly lies in the mobile device that most of us carry around with us."
Simple and secure online payments have been proven to improve access to financial services, widely allowing more people to become part of the financial mainstream.
Tanzania has made strides in financially including its citizens in the past decade with the percentage of its population forming part of the economy rising from 15.8 percent in 2009 to 65.3 percent in 2017, driven largely by the introduction of easily accessible mobile wallet solutions like M-Pesa.
- African News Agency (ANA)
Mastercard partners with Vodacom to introduce first online card in Tanzania | IOL Business Report
Equity Bank’s tech subsidiary is providing its payment platform to rival banks as it seeks a larger share of the e-commerce and remittances markets.
The subsidiary, Finserve, is looking to offer its platform and network of business partners to other lenders now that the firm is operating independent of Equity Bank.
Finserve has already integrated its platform with payment providers that include Alipay, established by Alibaba, Tencent’s WeChat, MasterCard and Visa, allowing it to process online payments across continents.
It is also working with other financial services providers to merge payment options in East and Central Africa on to one payment platform, accessible through mobile apps and online sites.
Finserve has so far signed up three banks to its platform, including Mayfair Bank, reflecting its shift to an independent company with own board and management.
Under the pact, it will share revenues with the lenders and businesses enroled to its platform.
“We are telling other banks and businesses that they need not set up their own costly payment infrastructure. We have done it for them and have the experience,” said Finserve managing director Jack Ngare, adding that Equity Bank is now its client.
Finserve had been behind innovations such as Equitel, Equity Bank’s mobile virtual network operator.
READ: Equity unit banks on tech to outpace competitors
Equitel had 1.93 million subscribers in March of the 42.8 million subscribers and moved Sh290.2 billion in the three months to March, accounting for 22.4 per cent of Kenya’s Sh1.29 trillion mobile commerce transactions.
Mr Ngare said the merged payment options for the region would mean people would not have to sign up for all the telecoms companies and banks services just to allow customers to pay into their business. “If you are a businessman doing business in, let’s say, Tanzania and you want to move to Uganda, then you can ... use our platform as soon as you land in Uganda to accept payments,” he said.
“One of my customers, who does a lot of Sino-Africa trade and he used to carry cash all the way to China to purchase goods, but now ... he is able now to push money back and forth,”Mr Ngare told Reuters recently, adding that the company has ambitions to expand beyond East and Central Africa into other African countries such as Nigeria and South Africa.
pandagichiza
JF-Expert Member
- Jul 9, 2013
- 5,248
- 3,663
So what
mwaswast
JF-Expert Member
- May 12, 2014
- 12,780
- 6,480
Si waliambiwa wakitaka kuiona London waingie Kenya Utakuwa imetosha.
Sarleh Arch
Member
- Feb 10, 2018
- 30
- 13
Na dial codes gani kucheki salio equity
?
?
MZALENDOWAKWELIKWELI
JF-Expert Member
- Feb 5, 2012
- 331
- 210
Kama hizi data ni sahihi, these numbers tell us the biggest here is MASTERCARD not VISA
Returns Asset Asset turnover
VISA 18.4 68 27%
MASTERCARD 12.5 21.3 59%
Numbers shows that Mastercard has assets with capacity to return to its owner twice as much compared to VISA. In other words VISA has assets similar to ELEPHANT in size but results are similar to ants (sisimizi).
kennedy0000
JF-Expert Member
- Apr 14, 2012
- 4,349
- 3,745
Do you make an extra effort to be stupid?
Since when did return on investment become a measure of net worth?
Even without going far, there are many companies here in Kenya that have a better return % than Apple. Does that make them bigger than Apple?
Bongolala wewe.
Also, Amazon and Tesla have probably the world's worst return %.
Amazon has even been consistently making losses. If your Azam makes a profit today, does that make it bigger than Amazon or Tesla.
Wacha kutumia kichwa kama kifuniko cha shingo.
MZALENDOWAKWELIKWELI
JF-Expert Member
- Feb 5, 2012
- 331
- 210
It seems what you are good at is matusi.... na sio hoja... Wingi wa asset kama standing alone figure sio kigezo cha kupima ufanisi wa kampuni kwa investor, kuwa na asset s nyingi its not a big deal coz they same can be financed by heavy loans with little returns...
kennedy0000
JF-Expert Member
- Apr 14, 2012
- 4,349
- 3,745
Go back to school. I doubt you've ever entered an economic class.
Today I can open a small shop and in one year make a bigger profit than Kenya Airways.
Since my assets have given me a better return, my shop is now bigger than Kenya Airways according to you.
Maneno ingine hutoka kwa midomo ya watu ni ya kushangaza sana.
Mkuu vip ulifanikiwa katika hili??procedures zipoje kulink??naweza kulink na skrill??
Sent using Jamii Forums mobile app
Alex Gk
Senior Member
- Sep 4, 2016
- 166
- 160
mkuuu sikulifatilia baada ya kukosa mawazo,, ila nirijaribu pia,, ikagoma Sijui labda kwa sasa