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Orange MEA and Mastercard sign deal for mobile financial services – Connecting Africa

Orange Middle East and Africa and global payments firm Mastercard have announced a strategic partnership to expand access to mobile financial services in sub-Saharan Africa.

The telco said the collaboration is one of the largest of its kind in the region and aims to enable millions of Orange Money wallet holders to access digital payments through Mastercard’s global merchant network by 2025.

The partnership will be rolled out in seven countries, including Cameroon, Central African Republic, Guinea-Bissau, Liberia, Mali, Senegal and Sierra Leone.

As much of Africa’s elderly population remains unbanked, the deal is “designed to accelerate financial access, contributing to the financial empowerment of underserved communities,” the group said.

Through the partnership, Orange Money customers will be able to receive a virtual or physical debit card linked directly to their Orange Money wallets.

Customers can request a virtual debit card through Orange’s super app, Max it, and pick up a physical card at a designated Orange Money Mastercard point of sale.

African man smiling while walking down the street and looking at his smartphone.

Aminatha Kane, CEO of Orange Money Group Middle East and Africa, said the collaboration will allow users to pay with the Mastercard linked to their Orange Money wallet when traveling abroad and give them access to secure online shopping around the world.

Related:More African SMEs embrace digital payments – Mastercard

Orange has 37 million active Orange Money accounts in 17 countries in Africa and the Middle East.

“Our collaboration with Orange Money represents a significant step in unlocking the full potential of digital financial services across Africa, enabling millions to participate in the global economy,” added Amna Ajmal, Executive Vice President of Market Development at Mastercard EMEA (EEMEA).

Mastercard increases transactions in Africa

Mastercard has closed several deals in Africa and the Middle East over the past few months.

In March 2024, MTN Group and Mastercard launched a prepaid virtual bank card for MTN Mobile Money (MoMo) customers in 13 markets in Africaas well as a physical accompanying Mastercard.

This came after Mastercard in February 2024. invested US$200 million in MTN Group’s fintech businessexpanding greater trade relations.

In April 2024, Mastercard and payments company Onafriq partnered with enable digital commerce for consumers and small and medium-sized enterprises (SMEs) across the continent.

In September 2024, Mastercard and Amazon Payment Services signed a multi-year commercial partnership agreement to digitize merchant payment acceptance in 40 markets in the Middle East and Africa, including Egypt and South Africa.

Related:Mastercard invests $2 million to support African content creators

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