Mastercard has partnered with Cellulant to enable millions of Cellulant customers across Africa to make online payments with global merchants wherever Mastercard is accepted. This partnership will allow consumers to pay securely for a range of products and services, from travel and accommodation to streaming services and entertainment, regardless of whether they have a bank account.

The collaboration links Mastercard’s virtual payment solution with Tingg, Cellulant’s payment gateway, creating new opportunities for consumers to access global digital commerce. This development is timely, as digital commerce in Africa is thriving, with the demand for safer online shopping methods continuing to grow.

Digital Commerce in Africa: A Growing Trend

According to a report by the Mastercard Economics Institute, 20-30% of the digital commerce surge witnessed during the COVID-19 pandemic is expected to remain a permanent part of retail spending. Mobile devices, particularly smartphones, play a vital role in accessing these opportunities.

With smartphone penetration in Sub-Saharan Africa expected to reach 65% by 2025, mobile payments are becoming the preferred method for digital transactions. As more consumers turn to online shopping, they also expect access to a wider range of digital services.

Supporting MSMEs with Virtual Cards

Africa has approximately 100 million micro, small, and medium-sized enterprises (MSMEs), but less than 5% of their transactions are digitized. For these businesses, virtual cards offer several advantages:

• Tracking and reconciliation of payments
• Faster settlements for day-to-day transactions
• Fraud reduction through digital tracking
• Better management of supplier and customer relationships

Digitization helps MSMEs grow through value chain financing and easier access to working capital. The Mastercard and Cellulant partnership aims to empower these businesses to thrive in the digital economy.

A Step Towards Financial Inclusion

Mastercard’s partnership with Cellulant is part of its global financial inclusion initiative, which aims to bring 1 billion people and 50 million micro and small businesses into the digital economy by 2025. This partnership aligns with Mastercard’s strategy to create a cashless economy where both businesses and consumers benefit.

Mastercard’s Vision for Seamless Digital Commerce

According to Amnah Ajmal, Executive Vice President for Market Development in Eastern Europe, the Middle East, and Africa for Mastercard, the company’s technology allows its partners to enhance digital commerce experiences.

“Through multi-use, omnichannel digital payment solutions, Mastercard helps partners like Cellulant improve efficiency, diversify revenue streams, and transition smoothly into digital commerce. Fintechs are a strategic opportunity to add value by improving user experiences and expanding consumer choice,” Ajmal said.

Cellulant’s Commitment to Economic Growth

David Waithaka, Cellulant’s Chief Revenue Officer, emphasized the role of seamless payments in driving Africa’s economic development.

“MSMEs power Africa’s economy, and by digitizing payments, we create the foundation for innovation and financial inclusion. This partnership with Mastercard positions our customers for sustainable growth,” Waithaka said.

Cellulant’s Contribution to Digital Payments in Africa

With 18 years of experience, Cellulant has built an extensive payments platform that serves local, regional, and global businesses. Operating across 35 countries in Africa with 300 payment integrations, Cellulant offers a frictionless payment experience for merchants and consumers. This partnership with Mastercard aims to enhance interoperability across Africa’s commercial landscape, making digital payments more accessible and secure.

By joining forces, Mastercard and Cellulant are helping to build a stronger digital economy in Africa, unlocking new opportunities for both businesses and consumers in an increasingly connected world.