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April 20, 2017

MasterCard, GTP collaborate to issue prepaid solutions in Africa

By Patrick Brusnahan

MasterCard has teamed up with Global Technology Partners (GTP) to launch new prepaid solutions across Africa to fulfil the requirements of numerous sectors while supporting government’s goals of a cashless continent.

The partnership will develop and implement a range of solutions, aimed at supporting government payments, boosting the travel and tourism sector while driving transparency and efficiency for the financial services and corporate sector.

MasterCard said that the providing prepaid card solutions will improve GTP’s existing offering in Africa, and give consumers better access to payment systems, international travel, and online shopping.

Additionally, prepaid cards will help employers with an effective payroll solution, by offering a more efficient and transparent way for businesses to monitor expenditure.

MasterCard division president for Sub Saharan Africa Daniel Monehin said: “African economies are in support of driving cash out of the financial system, and the introduction of digital payment solutions is in line with their cashless strategies.

“Businesses on the continent need smart solutions that will provide efficiency, but also offer convenient ways to track and monitor expenditure.”

Global Technology Partners CEO Rich Bialek said: “MasterCard prepaid programs give cardholders greater access to the global marketplace, while advancing government efforts to increase financial literacy and inclusion. This partnership will also enable GTP to offer new payment solutions such as digital wallets and virtual cards to our customers.”

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