Mastercard Invests in New Technological Infrastructure to Drive Modernisation of Digital Payments in South Africa
Payment processing company, Mastercard, has announced the completion of a significant new technological infrastructure that will modernize digital payments in South Africa.
The project is the latest major investment that Mastercard has made in technology and partnerships in South Africa, which are set to further improve the country’s payment ecosystem, ensuring a seamless experience for both Mastercard partners and consumers.
The new technologies include the launch of new data centers, which will enable the processing of local transactions even more efficiently and securely. Mastercard’s priorities and investments are closely aligned with the South African Reserve Bank (SARB), National digital transformation agenda, Vision 2025, focusing on enhancing the digital ecosystem and supporting the African continent through locally relevant technology.
Speaking on Mastercard’s investment in South Africa’s payment ecosystem, Mastercard Southern Africa Country Manager, Gabriel Swanepoel said,
“This is a significant milestone for Mastercard in South Africa and the continent’s wider modernization journey. A strong digital ecosystem is a top priority for our partners, policymakers, and customers. That’s why we’ve been committed to ensuring a resilient and world-class payment infrastructure for decades. And that’s why we’ll continue our work to make SARB’s Vision 2025 digital transformation agenda a reality.”
Mastercard is playing a pivotal role in driving South Africa’s digital payments evolution by making substantial local investments in technology infrastructure. These investments underscore Mastercard’s commitment to advancing digital payment solutions and supporting the country’s technological development.
Through strategic investments in technology infrastructure, Mastercard aims to enhance the digital payment ecosystem in South Africa. This initiative involves bolstering the necessary technological foundations to facilitate secure, efficient, and widespread digital transactions.
While traditional payment methods like cash and swiping or inserting a credit card still have traction, the use of emerging digital payments in South Africa has continued to gain momentum.
According to Mastercard, consumers in South Africa have consistently shown a willingness to adopt innovative new technologies. As these consumers continue to rely on digital channels for transactions which is more convenient, Mastercard is committed to understanding their unique needs and preferences and diversifying its approach to modern forms of payment.
