Mastercard and
KaiOS have announced a groundbreaking partnership to simplify digital payments
for millions of small and medium-sized enterprises (SMEs) in emerging markets.
This collaboration will integrate Mastercard's payment technology into KaiOS's
affordable smart-feature phones, driving acceptance and supporting the growth
of the digital economy.
SMEs in
developing markets face significant challenges in adopting digital payments due
to expensive traditional payment acceptance terminals and technical
implementation hurdles. This partnership aims to bridge this gap by providing
affordable payment acceptance devices and stimulating inclusive growth.
The partnership
will enable SMEs to accept digital payments using KaiOS devices, with a simple
enrollment process using their phones. Merchants will have access to digital
payment options, including Mastercard QR Pay by Link and Tap & Go
contactless payments, enhancing security and convenience for both merchants and
consumers.
The initial
rollout will commence in Cote d'Ivoire and Nigeria, with plans to expand to
other emerging markets.
Jorn Lambert,
Chief Product Officer at Mastercard, emphasized, "Acceptance fuels a
successful digital economy... Our goal is to make it easy for merchants to
accept digital payments."
Sebastien
Codeville, CEO of KaiOS Technologies, added, "By bringing Mastercard's
secure payment technology to affordable internet phones running KaiOS, we're
unlocking new opportunities for small businesses and entrepreneurs."
Mastercard and
KaiOS will collaborate with partners like Touch and Pay Technologies (TAP) and
Wizzit to extend access to in-market merchants.
Olamide
Afolabi, CEO of TAP, praised the partnership, saying, "This partnership
is a game-changer for our existing and new customers, particularly in emerging
markets."
Dirk Bruynse,
COO of Wizzit, noted, "This partnership will enable us to scale our
switching capabilities and deliver innovative payment solutions."
The
Mastercard-KaiOS partnership marks a significant step towards driving financial
inclusion and empowering SMEs in emerging markets. By providing affordable and
secure digital payment solutions, this collaboration will foster a more
inclusive and connected global economy.
By: Nana Appiah Acquaye
