African telecom company MTN Group has selected VeriFone Mobile Money, a VeriFone and Mobilis Networks joint venture, to provide retail payment devices to merchants across its network in 16 countries.
The payment solution will allow customers to pay for goods and services using their mobile phone and MTN Mobile Money wallet.
In addition, Verifone will offer payment terminal solutions to merchants as part of the agreement.
Verifone Mobile Money CEO Chris Jones said: "We are excited to partner with MTN to enable their growing base of 219 million subscribers, particularly the 22 million MTN Mobile Money users, to use this innovative retail enablement software.
"This partnership will provide merchants with the technology needed to accept mobile payments from MTN’s growing mobile money customer base. Working with MTN, we also intend to provide merchants with additional ways to leverage this technology to further enhance the consumer experience," Jones added.
MTN Group head of mobile financial services Serigne Dioum said: "This partnership will also allow contactless payment in the near future.
"As MTN, we are hopeful that our relationship with Verifone will contribute to the growth of mobile retail payments in markets where cash remains predominant."