MoMo Rwanda has partnered with MasterCard to launch Rwanda’s Virtual Card, a groundbreaking digital payment solution that enables MoMo subscribers to make global e-commerce payments. This innovative product allows MoMo customers to shop or pay at any MasterCard-accepting merchant worldwide, directly linking their MTN MoMo account to a virtual card that can be accessed via mobile phones. The launch is part of MTN Group’s broader strategy to enhance collaboration with MasterCard in payment issuance, acceptance, and remittance across the continent.
The Virtual Card by MoMo is designed to meet the growing demand for digital payments and cross-border transactions, offering MoMo customers in 13 African countries the ability to connect seamlessly to MasterCard’s global network. The initiative aims to provide a safe, secure, and convenient way for users to manage their online purchases, with an added layer of security through the requirement of entering a PIN before confirming any transaction.
This new product offering is available to all MTN Rwanda customers, positioning MoMo as a key player in Rwanda’s growing cashless economy. Chantal Kagame, CEO of MoMo Rwanda, emphasized that the Virtual Card is just the beginning of a range of innovative products aimed at enhancing the customer experience. The collaboration with MasterCard and support from I&M Bank ensures that customers benefit from world-class technology and secure payment solutions, further advancing financial inclusion and literacy.
MasterCard’s Executive Vice President of Market Development for the EEMEA region, Amnah Ajmal, expressed the company’s commitment to driving innovation and expanding digital access across Africa. She highlighted the potential of this collaboration to connect people and small businesses to global e-commerce, create new opportunities, and foster the growth of the digital economy on the continent.
Benjamin Mutimura, CEO of I&M Bank, also praised the Virtual Card as a game-changer for Rwanda’s transaction landscape. He noted that the partnership will increase transaction efficiency and prosperity for the Rwandan population, aligning with the country’s agenda for a cashless economy and financial inclusion. The partnership is set to have a lasting impact on Rwanda’s financial ecosystem, empowering individuals and businesses alike.
This collaboration between MoMo Rwanda, MasterCard, and I&M Bank marks a significant step toward transforming Rwanda into a leader in digital financial services in Africa. With this launch, MoMo Rwanda is not only enhancing the payment experience for its customers but also contributing to the broader goal of digital financial inclusion across the continent.
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