MTN MoMo, Mastercard extend partnership to support wider digital access in South Africa
MTN MoMo South Africa and Mastercard expanded their partnership to provide additional digital financial services and improve access to the digital economy across the country.
The collaboration added functionality to the MoMo Wallet, allowing users to fund their accounts using debit and credit cards via Mastercard’s Payment Gateway (MPGS). The integration aims to increase convenience and accessibility for South Africans who rely on digital financial services.
Focus on security and reliability
The partnership incorporates Mastercard’s tokenisation technology, which replaces sensitive card information with a unique digital identifier, supporting secure transactions and reducing the risk of fraud.
Gabriël Swanepoel, country manager for Southern Africa at Mastercard, said the enhancements were designed to strengthen protection for users while improving transaction success rates.
Supporting financial inclusion
Kagiso Mothibi, CEO of MTN Fintech SA, noted that the collaboration could help users with limited credit histories to build financial profiles and gain access to additional services.
The expanded functionality allows more individuals and small businesses to engage with digital financial tools, which could support broader participation in South Africa’s digital economy.
