Mastercard has formed an alliance with payment service provider DPO Group to further boost Pan-African merchant payments.
The agreement allows DPO to act as a Pan-African switch by using the Mastercard Payments Gateway Services (MPGS), without the need for bank integration to authorise transactions.
The MPGS solution facilitates acceptance of multiple digital payments made in-store, online or using mobile.
Mastercard DPO Group partnership
The Mastercard DPO Group partnership will allow more than 40,000 merchants in Africa to accept Mastercard payments.
Mastercard division president for Sub-Saharan Africa Raghav Prasad said: “Our partnerships with DPO and other key fintechs across Africa, allows Mastercard to speed up building of the acceptance railroads that will drive the growth of secure and convenient electronic payments.
“This in turn acts as the engine that drives faster economic growth across the continent for the benefit of millions of Africans.”
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As part of the alliance, small and medium enterprises (SMEs) and global enterprises across Africa will be able to integrate a single platform for better payments processing.
Mastercard added that the collaboration will improve merchant benefits such as secure digital payment acceptance, access to advanced technologies, fraud management and global connectivity.
DPO Group CEO Eran Feinstein said: “By enabling both customers and merchants to transact securely online and offline we’re able to facilitate the growth of businesses across Africa.
“With the right pan-African technology partners, we’ve managed to turn online transactions to a preferred choice of conducting business across all industries.”