Mastercard’s strategy is based on collaboration and partnerships that drive innovation and this is another example. By enabling digital access to everyday products and services for under-served consumers and micro, small and medium enterprises (MSMEs), the payments platform will aim at driving digital and financial inclusion and can lead to improved economic possibilities for people and businesses. The platform, built by Mastercard Labs, aims to bring convenient financing opportunities to consumers, entrepreneurs and merchants across Africa, helping to combat the socioeconomic problems they face from restricted access to financing. This partnership will help to deliver convenient asset financing to consumers and MSMEs through the convenience of their smart handsets at a low upfront cost while distributing payments over time. As the product is used, importantly, the individual or business will establish a digital transaction history, which can be leverage for making other financing solutions accessible, such as credit, savings, investments and insurance. Amnah Ajmal, Executive Vice President, Market Development, Middle East and Africa, Mastercard said: “At Mastercard we are committed to accelerating the growth of digital financial services in Africa. As market organizers, we are always partnering with like-minded organizations to advance financial inclusion for individuals and MSMEs by empowering them with the right digital solutions. This Pay-on-Demand platform enables us to deliver on that promise, giving consumers an opportunity to participate in digital commerce while fostering digital and financial inclusion across the country.”

https://newsroom.mastercard.com/mea/press-releases/mastercard-partners-with-samsung-airtel-and-asante-to-drive-digital-inclusion-in-africa-through-pay-on-demand-services/