MasterCard - Afrikan Heroes

PayCentral Partners Mastercard to Launch DigiCentral

December 13, 2020

As the rate of online shopping grows across Africa, buoyed by the Covid-19 Pandemic and its social distancing protocols, the opportunities to deepen paycard platforms presented itself across countries. To this end, PayCentral has partnered with Mastercard to launch DigiCentral, a secure online platform that provides small business owners with a simple way of paying out incentives, rewards, gifting, corporate expenses and even salaries to their employees through a prepaid virtual card. The virtual card replaces a physical plastic card and can be used for eCommerce and in-store purchases. To complete a purchase online, DigiCentral virtual cardholders receive a 16-digit card number, security code and expiry date, which they would use much like a physical card. It can be linked to online retail apps like Uber, Uber Eats, Checkers 60 Sixty and others.

For in-store purchases, the virtual card can be loaded to any Masterpass-enabled digital wallet. Once loaded, the cardholder can use their mobile phone to scan a QR code displayed at checkout at retailers and billers that accept Masterpass payments in South Africa. According to Mastercard research, 68% of South Africans are shopping more online since the onset of the COVID 19 pandemic, while 75% say they are now using contactless payments, citing safety and cleanliness as key drivers.

“Social distancing has changed the way consumers pay and they now opt for touch-free, secure, and seamless ways to pay without compromising their health and safety,” says Suzanne Morel, Country Manager for Mastercard South Africa.

“This, in turn, has accelerated the demand for safe and secure virtual cards. Through our partnership with PayCentral, we can help small business owners to better meet the needs of their employees – without the costs and risks associated with cash.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Mastercard Rolls Out New Payment Functionality In Africa

November 18, 2020

As part of the implementation of its multi-rail strategy, Mastercard has launched a new account-to-account payment functionality for its B2B “Mastercard Track Business Payment Service” offer. The American company intends to modernize the sector. Its innovation promises to solve the lingering problems that buyers and suppliers face today.

James Anderson, executive vice president of global business solutions and B2B at Mastercard

It gives companies better control of their payments, enables rich data exchange and automates payments by eliminating a major risk. It is about the need to share sensitive information about one’s bank account. Thanks to Mastercard’s solution, suppliers and buyers can better preserve the confidentiality of their data.

Mastercard payment Africa Mastercard payment Africa

The new functionality is available in the United States and will be rolled out in all regions by the end of 2021. James Anderson, executive vice president of global business solutions and B2B at Mastercard, explained the stakes of this launch.

“Today, the vast majority of B2B payments are made by wire transfer. Expanding the Mastercard Track Business payment service to support these transfers is a step towards creating the best and most secure B2B payment network in the world, ” he said.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

Standard Bank Partners Mastercard and Google on SME Digital Platform

October 29, 2020

Suzanne Morel, Country Manager, Mastercard, South Africa.

Three global brands have signed a memorandum of understanding to help small and medium enterprises to accelerate their digital footprints to wither the impact of the Covid-19 pandemic. This collaboration comes as Small and Medium Enterprises (SMEs) accelerate digital transformation efforts in response to the pandemic, thus this collaboration between Standard Bank, Mastercard and Google aims to help them move their businesses online, accept digital payments and attract more customers.

Through the collaboration, SMEs can get free access to Standard Bank’s SimplyBlu, an all-in-one e-commerce solution powered by Mastercard Payment Gateway Services, plus free Google Ads to the value of R500. These capabilities have been packaged as a bundled solution to help support business owners to tackle the economic challenges posed by the COVID-19 pandemic.

“As one of South Africa’s leading financial service providers, Standard Bank is acutely aware that small businesses play an important role in driving economic growth and generating employment opportunities. Our strategic relationships with leading brands such as Mastercard and Google ensure that we are able to support small businesses and offer our clients tangible benefits that add real value,” says Nelisa Zulu from Standard Bank.

Launched in 2019, SimplyBlu enables SMEs to create an online presence through the plug-and-play e-commerce store builder, which is interfaced with an instant online checkout. Taking skill levels and resource constraints into account, the platform has been designed in such a way that users can set it up and start accepting payments in a matter of minutes.

“We recognise the overwhelming pressure that small business owners are currently facing and are committed to supporting them through COVID-19 and beyond as they adapt to a new way of operating and evolved customer needs. Through this collaboration, our mission is to help as many SMEs with tools and support to expand their digital capabilities and take their operations to the next level,” says Suzanne Morel, Country Manager, Mastercard, South Africa.

With Google Ads, SMEs can get access to a digital marketing channel that will further help them in driving increased website visits to grow online sales, bookings or mailing list signups; more phone calls and customer interest queries; as well as more in store visits.

“Small businesses have been hardest hit during this period. Many of them have had to figure out quickly how to pivot their operations to a ‘digital-first’ approach. Yet, there remains a gap between those who can access these online opportunities and those who can’t. That’s the gap we want to bridge with this collaboration,” says Google South Africa Country Director Alistair Mokoena.

This is even as eCommerce has been a boon for small businesses over the last few months, largely due to consumer’s rapid adoption of online shopping and digital services as they opt to shop from the safety of their homes. “eCommerce is a powerful tool for small businesses – be it retail operators or merchants offering services ranging from home maintenance to professional services. Our SimplyBlu platform has seen over 100 percent growth during the COVID-19 period, with business owners increasingly realising the benefits of operating their businesses on online platforms,” says Zulu.

Candy Smith, a fashion designer, opened an online shop using SimplyBlu, where she built a face mask-making business. In early March, she was selling more than 200 masks a day. By the end of May, she reached over 1,500 masks a day for individual sales and secured corporate orders of 10,000 masks at a time.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Mastercard to empower fintechs across Africa and Middle East

October 3, 2020

Global leading financial card firm Mastercard has launched a new programme aimed at providing tailor-made solutions that boost market entry and expansion for fintechs in Africa and the Middle East. The project tagged Fintech Express will leverage the power of partnerships and Mastercard’s expertise, technology, and global network to help fintech companies focus on innovation that drives the digital economy.

The programme is designed for all types of fintechs – established companies wanting a direct license from Mastercard, as well as fintech startups with the ambition to innovate through collaborating with ready-to-go Mastercard Engage partners.

From a startup perspective, the “Build” part of the programme enables fintechs as processors and enablers to become Express Partners by building unique tech alliances and benefitting from all the advantages that Mastercard provides.

“Connect”, meanwhile, is aimed at fintech startups that are looking to add payment solutions to their suite of products, and helps them easily connect with qualified Express Partners available on the Mastercard Engage web portal, and go live with Mastercard in a matter of days.

“Startups are forming diverse collaborations with traditional financial institutions, and in the process manage to enhance competitiveness, while also bringing services and products to market that can have a real impact on consumers,” said Gaurang Shah, senior vice president of digital payments and labs in Middle East and Africa at Mastercard.

“Mastercard is playing a central role in making fintech partnerships a reality as a single technology provider. Technological advancement and innovation are steering the digital financial services industry, where fintech players are becoming globally mainstream and an increasing influx of fintech players are competing with large traditional players. With today’s announcement we are taking the next step in further empowering them to fulfil their ambitions of scale and speed.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

MasterCard Launches Initiative to Provide 10 Million Ethiopian Youth With Jobs

October 30, 2019

Ethiopian youth are in for a big surprise as MasterCard Launches initiative aimed at providing over 10 million young people access to dignified and fulfilling work opportunities in the country by 2030.

Dr. Ephrem T. Lemango, Commissioner, Jobs Creation Commission.

This follows the launch of an initiative, Young Africa Works in Ethiopia, by Mastercard Foundation that will seek to create employment opportunities for the youth in partnership with Ethiopia’s Jobs Creation Commission (JCC). Mastercard Foundation has committed an initial USD300 million to the initiative.

Young Africa Works in Ethiopia is aligned with the Ethiopian government’s plan to create new jobs to spur economic growth and was designed in partnership with the government, the private sector, academic institutions, and young people.

Mastercard Foundation will work with JCC to create programs to catalyze growth in the tourism, agriculture, manufacturing, and ICT sectors. Programs will support entrepreneurs and small and medium-sized businesses to achieve greater productivity and expand income-generating opportunities.

‘Ethiopia’s prosperity will be achieved when we individually achieve our full potential first. Creating jobs for all, particularly, youth and women, is about giving people hope, dignity and the means to build this prosperous future,” says Dr. Ephrem T. Lemango, Commissioner, Jobs Creation Commission.

The Foundation announced its first phase of implementing partners, including the International Centre for Insect Physiology and Ecology (icipe), Kifiya Financial Technology, First Consult PLC and DAI Europe, Dalberg, Ministry of Innovation and Technology, and SNV. The cumulative value of the first phase of partnerships is over
USD119 million and will see more than 1.4 million direct work opportunities contributing to Young Africa Works in Ethiopia’s goal of 10 million work opportunities by 2030.

“Through my travel across Ethiopia, I’m inspired by the creativity and dynamism of young entrepreneurs and how their innovations are bringing about meaningful change in their communities,” says Reeta Roy, Mastercard Foundation President and CEO. “Young Africa Works will support them by providing access to finance, business development support and skills development so they can further scale their businesses to create more jobs for young Ethiopians.”

Learning from its work in 34 countries on the continent, including Ethiopia, over the past decade, the Foundation will deepen its engagement in 10 African countries. Ethiopia is a priority country because of the government’s commitment to reform the policy and regulatory environment to encourage the development of the private sector and attract foreign investment. Since 2009, the Mastercard Foundation has committed more than USD62 million to advance financial inclusion, education, and youth livelihoods.

“It’s hard owning your own business, and I failed at least twice, but if you follow your passion, then you are able to really impact people’s lives. What keeps me going is knowing that my drive does not come from making a profit, but from creating jobs that are giving people a livable income and helping them flourish and grow. As an entrepreneur, I want to improve the productivity, creativity and sustainable growth of my company but this means access to capital and land so that I can expand and scale my business,” explains 29-year old Semhal Guesh, Founder and CEO of Kabana Leather in Addis Ababa, a start-up that was established in 2017 and now employs more than 80 people, 80% of them young women.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.