Safaricom and Mastercard have formed a strategic partnership to enhance payment acceptance and cross-border remittance services for merchants in Kenya. This venture will utilize Safaricom’s M-PESA mobile money service along with Mastercard’s global payment infrastructure, aiming to improve financial inclusion and offer innovative digital payment solutions. By leveraging Safaricom’s network of 636,000 merchants and Mastercard’s worldwide reach, they will provide secure and scalable payment options for businesses targeting both local and international markets.
Amnah Ajmal, Mastercard’s Executive Vice President for Europe, the Middle East, and Africa (EEMEA), highlighted the partnership’s aim to foster an inclusive digital economy in Kenya. In addition, the collaboration will streamline cross-border remittance services, making international money transfers more efficient for Kenyan businesses and individuals. By integrating Mastercard’s omnichannel solutions with M-PESA, merchants will benefit from faster and more reliable payment methods.
The initiative also aligns with Safaricom’s mission to provide innovative, customer-focused products while contributing to Kenya’s economic growth. Small and medium enterprises (SMEs), which depend on digital platforms like M-PESA, stand to gain increased efficiency and access to global markets, further promoting financial inclusion.
With the rollout of these services expected in the coming months, the partnership between Safaricom and Mastercard marks a significant step forward in Kenya’s digital payment landscape, solidifying the country’s position as a global leader in mobile-based financial services.
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