Safaricom and Mastercard Partner to Enhance Payment Acceptance and Cross-Border Remittance Services in Kenya
Safaricom and Mastercard have entered into a strategic partnership aimed at accelerating the adoption of payment acceptance and cross-border remittance services in Kenya.
This collaboration is set to benefit over 636,000 merchants who utilize M-PESA, Safaricom’s leading mobile money platform. Kenya’s payment acceptance market has been growing steadily, with mobile wallet payments driven by M-PESA registering a compound annual growth rate (CAGR) of 12.7 percent between 2020 and 2024.
By leveraging M-PESA’s extensive merchant network and Mastercard’s global payment infrastructure, this partnership will provide seamless, secure, and scalable payment solutions. This will empower merchants to serve customers across global markets, while also enhancing cross-border remittance services, streamlining international transactions for faster and more efficient transfers.
“We are proud to partner with Safaricom to build an inclusive digital economy that works for everyone, everywhere. We will enable the merchants to grow and contribute to the Kenyan economy,” said Amnah Ajmal, Executive Vice President for Eastern Europe, the Middle East, and Africa (EEMEA) at Mastercard.
Both Safaricom and Mastercard are committed to fostering innovation and driving financial inclusion within Kenya’s rapidly evolving digital landscape. By embedding Mastercard’s omnichannel acceptance solutions into M-PESA’s merchant ecosystem, the partnership aims to scale digital payments across Kenya. Additionally, Mastercard’s infrastructure will enhance cross-border money transfers, ensuring faster, more reliable transfers, and helping merchants accept digital payments more efficiently.
“This collaboration with Mastercard unlocks new opportunities for M-PESA merchants, aligning with our mission to deliver innovative, customer-centric products. By combining our expertise with Mastercard’s global acceptance network, we are enabling businesses to provide more efficient and frictionless payment solutions to their customers, both in Kenya and beyond,” said Esther Waititu, Chief Financial Services Officer at Safaricom Plc.
This partnership underscores Safaricom’s and Mastercard’s commitment to advancing Kenya’s digital economy while providing merchants with the tools they need to thrive in both local and global markets.
