Fintech & Ecommerce

Mastercard to drive digital payments in Democratic Republic of Congo

The partnership is meant to design a digital ecosystem in DRC

Mastercard Billetera

Mastercard to drive digital payments in Democratic Republic of Congo. Source: pexels.com

Mastercard has partnered with a Kenya-based digital payments technology company Billetera. They aim to provide unbanked and financially excluded residents in the Democratic Republic of Congo (DRC) with access to formal financial and digital services through a range of digital payment solutions.

According to the press release, with only 22.5 million of DRC’s total population of 90 million being financially included within the nation’s financial system, access to banking and mobile money has become an important agenda for the government.

Mastercard’s partnership with Billetera is aimed at creating payments solutions that will drive acceptance of government services such as water and electricity bills, taxes such as wet market permits, housing rents and building permits, e-visas, customs payments in the ports.

The acceptance solutions were designed for delivery through online portals and PostBank channels.

As we continue to invest in innovative technologies & platforms, infrastructure and the right fintech partnerships that enable us to provide a single platform capability across multiple-use cases to our partners, we are confident this will boost our efforts in achieving our global commitment to bring 1 billion people into the digital economy by 2025.  A partnership like this one will further the Democratic Republic of Congo’s prospects of growing financial inclusion in the country
Arn Vogels, Area Business Head, Francophone Sub-Saharan Africa at Mastercard

The partnership will support the development of an e-citizen system through the launch of a digital wallet that will serve as the ID and main payments platform for payments to and from the government.

We’ve reported that Western Union enables cross-border payments on Google Pay.

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