Mastercard and AXIAN group to advance digital payments in Africa
Mastercard announced the establishment of a strategic partnership with AXIAN Group for the deployment of digital payment services in African countries. The partnership will cover the Republic of Tanzania, Madagascar, Togo, Comoros, and Senegal. Mastercard’s move will increase access to innovative financial services for individuals as well as businesses through AXIAN’s Mixx and MVola brands. The products allow users to receive and send funds through their mobile phones.
A partnership focused on financial inclusion
These companies aim to make financial services more accessible for people and businesses in underserved communities. Mastercard will support AXIAN with technologies that enhance security and ease of use. AXIAN will build on its strong regional presence to distribute reliable digital payment options. These efforts focus on helping consumers, SMEs, and entrepreneurs manage payments and transactions with greater confidence.
Mete Guney, Executive Vice President, EEME Mastercard, said, “Across Africa, technology is unlocking new ways to connect people to opportunity. This partnership reinforces how we are enabling simple and secure ways to make payments and move money. We remain committed to working with innovative players like AXIAN to drive financial inclusion and accelerate the growth of the continent’s digital economy.”
New tools for everyday transactions
Consumers can now download the Mixx and MVola apps to access new payment tools. The apps allow users to top up their virtual card and view live exchange rates. Users can also monitor and cancel transactions in real time to improve control and safety. These features support international payments and help customers engage with global services.
The new solutions will help people manage their finances through convenient and straightforward tools. The move also supports cross-border activity for workers, families, and small businesses. The collaboration aims to remove barriers that have slowed the expansion of financial services in many regions.
Supporting Africa’s digital shift
Erwan Gelebart, Chief Executive Officer of the Digibank and Fintech cluster, said, “At AXIAN, our vision is to be at the centre of Africa’s digital revolution, bringing solutions that empower our customers with relevant and convenient financial services, simplify lives, and expand access to financial services.”
He added, “Through this collaboration with Mastercard, we are giving our customers the tools they need to thrive in today’s interconnected world, whether it is shopping, sending money across borders, or managing their business securely from a mobile app.”
Expanding access for underserved communities
This collaboration is monetarily focused with the objective of bridging some of the gaps that still exist within the African continent. Cash payments are still widely used within many communities in Africa because of a lack of banking infrastructure. However, through the use of virtual cards and mobile-based products, this issue is being addressed.
The collaboration expands access to banking and payments services to underserved customers who have traditionally been limited, unlocking the full potential of the continent’s digital economy.
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