Mastercard has announced new partnerships with The Mojaloop Foundation and AfricaNenda Foundation to bolster instant payment systems across Africa. These collaborations aim to create inclusive and interoperable payment ecosystems with enhanced security. As Africa modernizes its payment infrastructure, Mastercard is expanding its efforts to build trusted and inclusive payment systems.
Africa currently has 36 live instant payment systems across 31 countries, processing over 64 billion transactions worth nearly $2 trillion in 2024. As account-to-account payments grow, the partnerships will strengthen local payments infrastructure, enabling consumers and businesses to transact safely and confidently. This will fuel economic growth across the continent.
Through its partnership with The Mojaloop Foundation, Mastercard will explore how its AI-powered A2A Protect solution can complement Mojaloop's payment infrastructure to enhance fraud prevention and deliver end-to-end consumer protections. A2A Protect is a comprehensive solution for account-to-account payment protection, helping financial institutions combat fraud while fostering trust and accelerating instant payments.
The initiative aims to support governments and financial providers in expanding access to digital financial services while maintaining trust, resilience, and security. With 15% of adults encountering scams daily, the partnerships will help address these concerns. Mojaloop's technology has already been used to roll out deployments across Africa, supporting the development of interoperable payment infrastructure.
Mastercard has also partnered with AfricaNenda Foundation, an Africa-based non-profit dedicated to accelerating financial inclusion through inclusive instant-payment systems. By combining Mastercard's real-time payments expertise with AfricaNenda's regional policy engagement and governance support, the organizations will help advance interoperable, trusted, and resilient payment systems.
The partnerships reflect a shared ambition to shape the future of Africa's digital economy through instant payment systems that are fast, interoperable, safe, inclusive, and trusted. Johan Gerber, Executive Vice President of Payment Networks at Mastercard, emphasized the importance of trust in digital economies. Jean Bosco Iyacu, CEO of The Mojaloop Foundation, highlighted the need for strong protection to boost consumer confidence in digital payments.
The collaborations between Mastercard, Mojaloop, and AfricaNenda will have a significant impact on Africa's digital economy. By enhancing security, interoperability, and trust in instant payment systems, the partnerships will help bring more people, businesses, and communities into the digital economy. This, in turn, will drive economic growth and financial inclusion across the continent.
Key points
- Mastercard partners with Mojaloop and AfricaNenda to enhance instant payments in Africa.
- The partnerships aim to create inclusive and interoperable payment ecosystems with enhanced security.
- The collaborations will help drive economic growth and financial inclusion across Africa.
