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Online Payments

Mastercard, Angaza to roll out new digital payment solution

Wednesday 27 February 2019 | 02:34 PM CET

Mastercard has signed a global Memorandum of Understanding (MoU) with Angaza, which will see the two companies partner to roll out a new digital payment solution.

The solution aims to increase access to affordable necessities, like solar home systems and water pumps, for people and businesses in emerging markets across the globe.

By using Angaza’s pay-as-you-go (PAYG) embedded metering and monitoring technology and Mastercard’s digital payment solutions and infrastructure, including QR technology, this partnership also aims to help people without access to credit or traditional banking services.

Moreover, this partnership could open up access to other financial services and tools. By keeping accurate records of payments that a user is making, the user is able to establish a verifiable digital identity and trackable credit history, which was previously hard to create or maintain. This data gives companies and financial service providers the ability to help underserved people get on a new path to financial inclusion.

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