MasterCard has partnered with Angaza to propel its QR payment technology growth across Africa, Latin America and other emerging markets. The partnership will give Angaza customers access to MasterCard’s digital payment solution, for solar home systems and water pumps- powered by Angaza’s pay-as-you-go (PAYG) embedded metering and monitoring technology. Angaza is a platform that creates the technology, which enables businesses to offer life-changing products to anyone, anywhere.
MasterCard’s QR technology will not only unlock access to basic necessities but will also help people who don’t have access to credit or traditional banking services to begin financial inclusion. The partnership is in conjunction with MasterCard’s PAYG application in Uganda last year. Some payments on the Angaza platform are currently done through cash or mobile money. However with MasterCard’s API on board, new levels of payment flexibility and affordability that will impact the lives of consumers will be provided.
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The partnership will also enable users establish a verifiable digital Identity and also, a traceable credit history that wasn’t easy to create and maintain initially. Jorn Lambert, Executive Vice President, Digital Solutions at Mastercard said, “We are delighted to be partnering with Angaza to bring access and inclusion to people and businesses around the world. This partnership will help consumers to overcome hurdles such as the significant cash outlay required to purchase critical items by leveraging micro payments, which in turn also helps to build their credit history. All of this is being made available via the internet of things, which is a great democratizer and is playing a critical role providing safe, secure and accessible digital ecosystems”
According to Angaza CEO Lesley Marincola, “This is a pivotal collaboration for the last-mile distribution industry, bridging Angaza’s global pay-as-you-go solution with a leading digital payment provider.”
“The addition of Mastercard’s QR technology to Angaza’s platform will allow solar distributors and their clients to process payments for life-changing products securely and efficiently, while opening doors to broader financial inclusion” he also said.
Angaza’s technology is a platform that has enabled more than five million people in emerging markets across Africa to purchase over one million life-changing products like; solar home systems, water pumps, and clean cook stoves. Through the successful pilot with the BOP Innovation Centre in Nigeria, Mastercard and Angaza plans to expand the programme to other markets in Africa and Latin-America.