Mastercard, Onafriq collaborate to improve digital payments for SMEs

Mastercard and Onafriq (previously MFS Africa), a pan-African payments company, have collaborated to improve payment options for consumers and small and medium enterprises (SMEs) in Africa.

The firms said that with their shared commitment to boosting financial inclusion through an omnichannel approach, the collaboration will drive the growth of digital financial services, including mobile money transactions, cross-border remittances, and cross-border settlements.

Amnah Ajmal, executive vice president of Market Development, EEMEA at Mastercard, said, “Technological advancements are steering the digital financial services industry, and providing accessible digital payment solutions is imperative for empowering consumers to transition to digital commerce.

“At Mastercard, we seek to leverage fintech partnerships in Africa to catalyse transformative change across industries that benefit individuals, communities, and businesses. We look forward to collaborating with Onafriq to pave digital pathways and drive innovation across the continent’s payment ecosystem.”

Dare Okoudjou, founder and chief executive officer of Onafriq, added, “Onafriq is focused on making borders matter less by supplying networks and digital payment solutions that give all Africans access to the financial services they need to scale their businesses or to transact.”