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Mastercard and KaiOS Technologies have joined forces to provide small and medium-sized businesses (SMBs) in emerging markets with affordable digital payment devices, starting in Côte d’Ivoire and Nigeria, with plans to expand across Africa and other regions. This initiative aims to address key barriers SMBs face in adopting digital payment systems, including the high cost of traditional payment terminals and the complexity of implementation.
According to a press release issued on September 25, the collaboration leverages Mastercard’s global payment technology and network, along with KaiOS’s affordable smart feature phones, to enable even the smallest businesses to accept digital payments.
Jorn Lambert, Chief Product Officer at Mastercard, stressed the importance of inclusivity in the digital economy: “Acceptance is vital for the growth of a successful digital economy. It’s crucial that we support merchants at their current stage and help them advance. Whether it’s a micro-merchant in Côte d’Ivoire or a larger enterprise in Indonesia, our goal is to simplify the process of accepting digital payments for businesses and enable consumers to make them easily.”
Through the partnership, SMBs will initially gain access to Mastercard’s QR Pay by Link system for digital payment acceptance. The plan includes introducing Tap & Go contactless payment technology soon. Sebastien Codeville, CEO of KaiOS Technologies, emphasized the transformative potential of the collaboration: “By integrating Mastercard’s secure payment technology into affordable KaiOS-powered phones, we are opening up new possibilities for small businesses, allowing them to more fully engage in modern commerce.”
This initiative builds upon Mastercard’s broader commitment to enhancing payment acceptance by working with startups that focus on creating cost-effective solutions for small businesses. Programs like Start Path provide mentoring and collaboration opportunities for startups, fostering innovation in digital payments and promoting financial inclusion across underserved markets.
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