Tanzania payment ecosystem improved after three-way partnership including Mastercard

Tigo Tanzania, Selcom and Mastercard Inc. has announced a strategic partnership that will see the three industry leaders revolutionize the digital payments ecosystem. They will enable online payments globally through the Tigo Mastercard virtual service via Selcom’s card-as-a-service (CaaS) platform.

This partnership will enable Tigo Pesa customers to transact on global payment platforms. They will also benefit from Mastercard’s technology which will enable new digital trading opportunities for consumers and merchants, through simple and secure payment experiences.

The launch of the virtual card will ensure Tigo’s ability to give its customers access to products and services that were previously reserved for physical credit card holders. At the same time as it diversifies the mobile money portfolio.

In addition, the partnership will result in a wide range of digital payment solutions being introduced in Tanzania. It will connect Tigo customers in Tanzania to a global online marketplace across multiple digital payment use cases and provide access to Mastercard’s global network of merchants.

Simplification of payments

Tigo’s Head of Mobile Financial Services (MFS) Angelica Pesha said: “As the leading digital lifestyle company in Tanzania, we are always on the lookout for such partnerships. Our customers will now be able to complete online transactions that require Mastercard credentials. All while using funds from their Tigo Pesa wallets.

“It also means that this service will allow customers to quickly and easily pay for goods and services in the international market, we hope this partnership will improve the user experience and accessibility of a wide range of MFS services.”

“This partnership further cements our position as a provider of choice for mobile financial services. We believe this venture will increase the number of transactions for cross-border business. This shows that Tigo Pesa is a full-fledged financial service in Tanzania.

“The virtual card enables Tigo consumers to easily make payments at any online point of purchase where Mastercard is accepted without the need for a bank account or credit card. To create the virtual card, customers should call the Tigo Pesa menu (*150* 01#) or use the Tigo Pesa app and follow the simple steps. Once the card is created, the virtual card is ready to use for online payments,” Pesha noted.

Strengthen each other through partnership

Selcom’s CEO, Sameer Hirji expressed his enthusiasm for the ground-breaking collaboration: “At Selcom, we are proud of our unwavering commitment to innovation and excellence in the payments industry. We are thrilled to team up with renowned partners such as Tigo Pesa and Mastercard to unveil our state-of-the-art mobile money virtual card.

“By continually investing in our infrastructure and refining our market presence, we aim to deliver cutting-edge, reliable solutions that drive growth and success for our partners and customers.”

Ngozi Megwasenior vice president, digital partnerships EEMEA, Mastercard said: “Mastercard recognizes that consumers today are looking for simple and secure financial products that add more value to their daily lives. Our innovation approach is focused on enabling the digital transformation of our partners so that millions of customers can enjoy seamless access to a global payment ecosystem with a superior user experience.

“Our technology is fully equipped to empower our partners to launch innovative and relevant solutions that will create a strong value proposition for all our customers. With our strengthened relationships with the players in the telecommunications industry, this partnership with Tigo further embeds our commitment to expand customer choice and access to digital commerce.”