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The partnership between Mastercard and MTN Group is hoped will enable the millions of the mobile service provider's customers to pay on global online platforms with a Mastercard virtual payment solution linked to the MTN MoMo wallet.
Mastercard will soon, later in 2021, support cryptocurrency transactions on its network. This announcement came at a time when crypto is gaining popularity and prices reaching all-time highs.
Mastercard's new solution will allow small businesses to accept touchless payments on their smartphones at no additional hardware costs. It also comes with a plug-&-play e-commerce store builder.
Ukheshe, a South African digital banking startup, has been selected to join Mastercard Start Path, an exclusive startup engagement program for later-stage scaling startups.
Probably worrying for Libra is that these withdrawals mean that the Libra Association is now left without any major global payments companies as members, something that could prove to be a hurdle should Libra want to facilitate and process payments from them.
Mastercard has expanded its Engage programme with the first events in Nigeria and Kenya to introduce local fintech innovators to its partnership opportunities.