The deal with Mastercard expands the breadth of MTN’s Mobile Money services across 13 African markets.
Mastercard has acquired a minority stake in MTN Group Fintech, valuing the business at almost R100-billion.
Promoted | An innate ability to understand the market’s most pressing needs, coupled with a laser-sharp focus on solving the African continent’s challenges, is at the heart of Mastercard’s work to support Africa’s fintechs.
Magstripes remain used in markets around the world, including South Africa, despite obvious security risks. Why?
MTN Group is seeking as many as three more strategic investors in addition to Mastercard for its fintech unit.
MTN Group has signed an initial agreement with global payments giant Mastercard to sell a minority stake in its fintech arm.
MTN shares jumped 10% in early trading on Monday after it said its fintech business had been valued at $5.2-billion.
Promoted | iKhokha and Mastercard recently completed a project that resulted in a new case study on contactless payments in the local market.
Mastercard and PayU have joined forces to launch Click to Pay as a way to speed up online payments in South Africa.
The San Francisco-based technology firm plans to train 40 start-ups and fund a few each year.