Visa and Mastercard want a share of mobile money in Africa

by MMC
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JOHANNESBURG — African fintech companies have found creative ways to help the continent’s consumers spend their money. Traditional payment companies want to participate.

Global payment giants, including MasterCard And Visapour billions of dollars in African companies which have fueled a strong expansion of e-commerce on the continent. Recent deals have focused on mobile money operators, which allow users to send funds using simple mobile phones, and on platforms that make these payments easier for merchants such as Uber Technologies, Netflix Or Estee Lauder without the need for credit cards or bank accounts.

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