Safaricom Signs New Partnership With Mastercard

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2 min read
Safaricom and Mastercard partner to expand remittances and payment acceptance to over 636,000 merchants in Kenya
(L-R Back): Shehryar Ali, SVP and Country Manager for East Africa & Indian Ocean Islands at Mastercard; Lenin Oyuga, Head of Telco Commercial and Partnerships, Middle East and Africa (MEA) at Mastercard; Aliya Khanbhai, Tribe Lead for Next Financial Services Wealth and Insurance at Safaricom Plc; and Victor Odada, Head of M-Pesa Payments at Safaricom Plc (L-R Front): Amnah Ajmal, Executive Vice President, Market Development, EEMEA at Mastercard and Esther Waititu, Chief Financial Services Officer at Safaricom Plc.
(L-R Back): Shehryar Ali, SVP and Country Manager for East Africa & Indian Ocean Islands at Mastercard; Lenin Oyuga, Head of Telco Commercial and Partnerships, Middle East and Africa (MEA) at Mastercard; Aliya Khanbhai, Tribe Lead for Next Financial Services Wealth and Insurance at Safaricom Plc; and Victor Odada, Head of M-Pesa Payments at Safaricom Plc (L-R Front): Amnah Ajmal, Executive Vice President, Market Development, EEMEA at Mastercard and Esther Waititu, Chief Financial Services Officer at Safaricom Plc.

Safaricom and Mastercard have signed a partnership to accelerate the adoption of payment acceptance and cross-border remittance services in Kenya.

This collaboration is set to benefit over 636,000 merchants using M-PESA, Safaricom’s leading mobile money service. Kenya’s payment acceptance market continues to grow, with mobile wallet payments driven by M-PESA showing a 12.7 percent CAGR between 2020 and 2024.

Leveraging M-PESA’s merchant network and Mastercard’s global payment infrastructure, this partnership will make seamless, secure, and scalable payment solutions available to merchants, enabling them to serve customers across global markets. The partnership will also boost remittance services, streamlining cross-border transactions efficiently.

“We are proud to partner with Safaricom to build an inclusive digital economy that works for everyone, everywhere. We will enable the merchants to grow and contribute to the Kenyan economy,” said Amnah Ajmal, Executive Vice President, EEMEA, Mastercard.

 By embedding Mastercard’s omnichannel acceptance solutions across M-PESA’s merchant space, the partnership is scaling digital payments across Kenya. Furthermore, by integrating Mastercard’s infrastructure, Safaricom will enhance cross-border money transfers, providing faster, more reliable transfers, while advancing its ability to support merchants in accepting digital payments.

“This collaboration with Mastercard unlocks new opportunities for M-PESA merchants, aligning with our mission to deliver innovative, customer-centric products. By combining our expertise with Mastercard’s global acceptance network, we are enabling businesses to provide more efficient and frictionless payment solutions to their customers, both in Kenya and beyond,” said Esther Waititu, Chief Financial Services Officer, Safaricom Plc.

Safaricom and Mastercard are committed to foster innovation and financial inclusion within Kenya’s evolving digital landscape. The first initiatives are expected to roll out in the coming months, advancing Safaricom’s journey toward securing its acquiring license and providing merchants with cutting-edge digital payment solutions.

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