Mastercard Partners With Mojaloop and AfricaNenda to Strengthen Instant Payments in Africa
Article excerpt
Through a new collaboration with The Mojaloop Foundation, a non-profit that maintains free, open-source payments software and community infrastructure, Mastercard will explore how its AI-powered A2A Protect solution can complement Mojaloop's, payment infrastructure to help strengthen fraud prevention and deliver end to end consumer protections that more closely mirror the safeguards consumers have come to expect from cards. As countries across Africa continue to modernize their payment infrastructure, Mastercard is expanding its efforts to help build trusted and inclusive payment systems through strategic collaborations with The Mojaloop Foundation and AfricaNenda Foundation. Africa now has 36 live instant payment systems across 31 countries, processing more than 64 billion transactions worth close to US$2 trillion in 2024 alone. As account-to-account payments continue to grow, the new partnerships will help to strengthen local payments infrastructure enabling consumers and businesses to transact safely and confidently, fuelling economic growth across the continent. Through a new collaboration with The Mojaloop Foundation, a non-profit that maintains free, open-source payments software and community infrastructure, Mastercard will explore how its AI-powered A2A Protect solution can complement Mojaloop’s, payment infrastructure to help strengthen fraud prevention and deliver...
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Mastercard has also partnered with AfricaNenda Foundation, an Africa-based non-profit dedicated to accelerating financial inclusion through inclusive instant-payment systems.
