MasterCard has committed to provide its simple and secure digital payment solution, Masterpass QR, to more than 150,000 micro, small and medium enterprises (MSME) in Kenya during 2017.

The mobile driven, person-to-merchant payment solution will be launched through numerous financial institutions and other partners in the market from February onwards.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Through its digital payment initiative, MasterCard aims to foster higher level of inclusion for MSMEs in East Africa. Besides driving operational efficiency, it will also help MSMEs to grow and develop their businesses.

The regional commitment to impact over 150,000 MSMEs in Kenya is part of MasterCard's global goal of connecting 40 million micro and small merchants to its electronic payments network by the end of 2020.

Masterpass QR is claimed to be a fast, convenient and secure payment option for consumers and a trustworthy and instant acceptance offering for merchants.

Consumers can pay for in-store purchases by scanning the QR (Quick Response) code displayed at the checkout on their smartphones, or by entering a merchant identifier into their feature phones.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

MasterCard division president for Sub-Saharan Africa and head of financial inclusion for international markets Daniel Monehin said: “Kenyans are entrepreneurial by nature, and there are incredibly exciting business ideas coming from the region.

“We want to help these business owners to grow and prosper by delivering solutions that meet the needs of these business owners.

“Kenya is leading the charge in financial inclusion, with the World Bank reporting that 75% of its citizens over the age of 15 having a bank account. Masterpass QR has the potential to drive that number up further and more rapidly due to the penetration of mobile devices in the market.”