Visa and Mastercard want a share of mobile money in Africa
Visa and Mastercard want a share of mobile money in Africa
JOHANNESBURG — African fintech companies have found creative ways to help the continent’s consumers spend their money. Traditional payment companies want to participate.
Global payment giants, including MasterCard And Visa, are investing billions of dollars in African companies which have enabled a strong expansion of e-commerce on the continent. Recent deals have focused on mobile money operators, which allow users to send funds using simple mobile phones, and platforms that facilitate these payments for merchants such as Uber Technologies, Netflix Or Estee Lauder without the need for credit cards or bank accounts.
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