Mastercard and KaiOS Technologies have announced a strategic partnership to enable digital payment acceptance for small and medium-sized enterprises (SMEs) in emerging markets. The initiative will start in Côte d’Ivoire and Nigeria, utilizing KaiOS-powered feature phones and Mastercard’s QR Pay by Link technology.
These low-cost devices will leverage Mastercard’s payment technology and global network to enable small businesses to accept payments safely and efficiently through Mastercard QR, Mobile Point-of-Sale solutions, and Tap & Go contactless payment technology.
This collaboration seeks to reduce barriers faced by SMEs, such as the high costs of traditional payment terminals, and boost financial inclusion. The move aligns with Mastercard’s goal to drive global digital commerce, focusing on African markets initially.
“Acceptance fuels a successful digital economy, so it’s critical that we meet people where they are today and move them forward together,” said Jorn Lambert, chief product officer at Mastercard. “Whether it’s a micro-merchant in Cote d’Ivoire to an enterprise in Indonesia, our goal is to make it as easy for merchants to accept digital payments as it is for consumers to make them.
Small and medium-sized businesses (SMEs) – especially in developing markets – still struggle to adopt digital payments, from the expenses linked to traditional payment acceptance terminals to technical implementation challenges. This, in turn, makes it harder for these businesses to meaningfully participate in the digital economy and limits inclusive growth.
We’re looking forward to working closely with KaiOS to bring the best of our technology, scale, and expertise together to drive growth for emerging markets around the world.” Lambert added
Signing up is simple. Business owners can use their KaiOS-powered phone to enroll. After entering their registered credentials and authenticating via a one-time password, SMEs can then access and immediately use a variety of digital payment options.
“At KaiOS, our mission is to connect underserved communities with the digital world. By bringing Mastercard’s secure payment technology to affordable internet phones running KaiOS, we’re unlocking new opportunities for small businesses and entrepreneurs, allowing them to participate in modern commerce more fully. said Sebastien Codeville, chief executive officer of KaiOS Technologies.
KaiOS, known for affordable internet-enabled devices, will also introduce Mastercard’s contactless Tap & Go payments. The partnership will involve collaboration with local fintech players like Touch and Pay Technologies and Wizzit to expand adoption.
“At TAP, we are always looking for innovative solutions that enhance the accessibility and convenience of financial services for underserved populations. Our partnership with KaiOS and Mastercard is a game-changer for our existing and new customers, particularly in emerging markets,” said Olamide Afolabi, chief executive officer of TAP.
“By integrating KaiOS into our platform, we’re enabling millions of users with feature phones to access seamless digital payment solutions and financial services that were previously out of reach. This partnership is a vital step in furthering our mission to drive financial inclusion and empower communities through technology.”
“Wizzit is excited to join forces with KaiOS and Mastercard to expand secure payment acceptance solutions across Africa and beyond,” said Dirk Bruynse, chief operating officer of Wizzit. “This partnership will enable us to scale our switching capabilities and deliver innovative payment solutions that cater to the evolving needs of businesses of all sizes. We are confident that this collaboration will set new benchmarks for efficiency and drive greater financial inclusion.”
KaiOS works with all major carriers, mobile network operators, and mobile phone manufacturers in emerging regions, with plans to expand to include acquiring banks, payment facilitators, fintechs and more.
KaiOS Technologies is the company behind KaiOS, the world’s leading operating system for smart feature phones. KaiOS Technologies is based in Hong Kong and has offices in China, India, France, and the US. Over 200 people worldwide work for KaiOS so that more people can access the internet. KaiOS brings connectivity and apps to affordable devices.
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