Financial services holding firm Atlas Mara Limited and global payments company Mastercard have collaborated to build a stronger digital payment ecosystem in sub-Saharan Africa.
The partnership aims to bring about 20 million customers and 100,000 merchants under the umbrella of financial inclusion by 2020.
“These Mastercard assets will position Atlas Mara to lead ongoing industry efforts to create cash-lite payments ecosystems, entrench financial independence, promote intra-Africa trade and remittances thus fast tracking attainment of scale as an Africa focused bank,” said Chidi Okpala, Chief Digital Officer at Atlas Mara while briefing the media about the tie-up.
As per Daniel Monehin, Division President for Sub-Saharan Africa, Mastercard, “Sub-Saharan Africa requires innovative solutions and strong collaborations across sectors to help drive economic growth. Mobile subscriptions in the region is steadily increasing and it is clear that mobile based solutions are relevant to the needs of people on the continent, and will help to develop an Africa that is less dependent on cash.”