Safaricom and Mastercard have signed a partnership to accelerate the adoption of payment acceptance and cross-border remittance services in Kenya.
This collaboration is set to benefit over 636,000 merchants using M-PESA, Safaricom’s leading mobile money service. Kenya’s payment acceptance market continues to grow, with mobile wallet payments driven by M-PESA showing a 12.7 percent CAGR between 2020 and 2024.
L-R-Amnah Ajmal Executive Vice President Market Development EEMEA at Mastercard and Esther Waititu Chief Financial Services officer at Safaricom PlcLeveraging M-PESA’s merchant network and Mastercard’s global payment infrastructure, this partnership will make seamless, secure, and scalable payment solutions available to merchants, enabling them to serve customers across global markets.
The partnership will also boost remittance services, streamlining cross-border transactions efficiently.
Mastercard connects and powers an inclusive digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible.
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