Mastercard to roll out new payment solution

Mastercard will give 100,000 micro merchants in Kenya access to its new payment solution.

 The Masterpass QR mobile-driven, Person-to-Merchant payment solution will be introduced through various financial institutions and other partners in the market.

The firm said with at least 80 per cent of the country’s most critical jobs found in the SME sector, it is vital to introduce solutions that drive operational efficiency in these businesses.

With the Masterpass QR users no longer require cash, making transacting safer for merchants. “We want to help these business owners to grow and prosper by delivering solutions that meet the needs of these business owners,” said Division President for Sub-Saharan Africa and head of Financial Inclusion for International Markets Daniel Monehin.