Zamtel pens MoMo deal

02 July 2021

Zambia Telecommunications (Zamtel), the country’s incumbent telecommunications operator, has formed a partnership agreement with the American payment company MasterCard, in a bid to boost its mobile money (MoMo) business.

Under the terms of the deal, Zamtel Mobile Money subscribers - even those without bank accounts - will be able to make secure and transparent digital payments on the MasterCard network, including international e-commerce transactions.

“We are very excited about this partnership with MasterCard, which is another step in realising our ambition to become a digital lifestyle partner of choice,” said Sydney Mupeta, Zamtel’s president and chief executive officer. “With access to MasterCard’s unparalleled merchant network, this partnership instantly expands the ecosystem of locations where our mobile wallet can be used.”