Safaricom and Mastercard partner to expand remittances and payment acceptance to over 636,000 merchants in Kenya
Sponsored by Mastercard
Back row, left to right: Shehryar Ali, Mastercard Senior Vice-President and Country Manager for East Africa and Indian Ocean Islands; Lenin Oyuga, Mastercard Head of Telco Commercial and Partnerships, Middle East and Africa (MEA); Aliya Khanbhai, Tribe Lead for Next Financial Services Wealth and Insurance at Safaricom Plc; and Victor Odada, Head of M-PESA Payments at Safaricom Plc. Front row: Amnah Ajmal, Mastercard Executive Vice-President, Market Development, Eastern Europe, Middle East and Africa (left), and Esther Waititu, Chief Financial Services Officer at Safaricom Plc. This was during the signing of an agreement between Mastercard and Safaricom Plc to enhance payment acceptance and cross-border remittance services.
Photo credit: Mastercard
Safaricom and Mastercard have signed a partnership to accelerate the adoption of payment acceptance and cross-border remittance services in Kenya. This collabo- ration is set to benefit over 636,000 merchants using M-PESA, Safaricom’s leading mobile money service.
Kenya’s payment acceptance market continues to grow, with mobile wallet payments driven by M-PESA showing a 12.7 percent CAGR between 2020 and 2024.
Leveraging M-PESA’s extensive merchant network and Mastercard’s global payment infrastructure, the partnership will make more seamless, secure, and scalable payment solutions available to merchants, enabling them to serve customers across global markets. The partnership will also boost remittance services, streamlining cross-border transactions efficiently.
“We are proud to partner with Safaricom to build an inclusive digital economy that works for everyone, everywhere. We will enable the merchants to grow and contribute to the Kenyan economy,” said Amnah Ajmal, Mastercard Executive Vice President, Eastern Europe, Middle East and Africa (EEMEA).
By embedding Mastercard’s omni-channel acceptance solutions across M-PESA’s merchant space, the partnership is scaling digital payments across Kenya.
Furthermore, by integrating Mastercard’s infrastructure, Safaricom will enhance cross-border money transfers, providing faster, more reliable transactions, while advancing its ability to support merchants in accepting digital payments.
Back row, left to right: Shehryar Ali, Mastercard Senior Vice-President and Country Manager for East Africa and Indian Ocean Islands; and Victor Odada, Head of M-PESA Payments at Safaricom Plc. Front row: Amnah Ajmal, Mastercard Executive Vice-President, Market Development, Eastern Europe, Middle East and Africa (left), and Esther Waititu, Chief Financial Services Officer at Safaricom Plc. This was during the signing of an agreement between Mastercard and Safaricom Plc to enhance payment acceptance and cross-border remittance services.
Photo credit: Mastercard
“This collaboration with Mastercard unlocks new opportunities for M-PESA merchants, aligning with our mission to deliver innovative, customer centric products. By combining our expertise with Mastercard’s global acceptance network, we are enabling businesses to provide more efficient and frictionless payment solutions to their customers, both in Kenya and beyond,” said Esther Waititu, Chief Financial Services Officer, Safaricom Plc.
Safaricom and Mastercard are committed to foster innovation and financial inclusion within Kenya’s evolving digital landscape.
The first initiatives are expected to roll out in the coming months, advancing Safaricom’s journey toward securing its acquiring license and providing merchants with cutting edge digital payment solutions.
