02 March 2022

Mastercard has joined forces with payment products and services company Network International to roll out Tap on Phone technology across Africa to expand digital payment acceptance, targeting SMEs in the region.

They are working closely with governments, financial organisations, fintech firms and the wider business community to create opportunities for SMEs across the region, the companies said.

The Tap on Phone technology will be powered by Mastercard Payment Gateway Services, giving an estimated 500,000 SMEs in the Middle East and Africa the ability to accept payments through a smartphone.

Network International and Mastercard say that in an omni-channel environment where consumers increasingly want more choice to pay the way they choose, Tap on Phone is an innovative and welcome addition to the payment ecosystem.

The companies have a long-standing partnership, bringing together Mastercard’s expertise in payments and technology, and Network International’s digital payments capabilities that have a focus on security and innovation.

“Small businesses are crucial for systemic economic recovery, and by connecting more SMEs to digital commerce tools and affordable payment acceptance solutions, we are putting in place a strong foundation that can facilitate sustainable growth,” said Gaurang Shah, senior vice-president, head of products, EMEA, Mastercard.