Mastercard and KaiOS Partner to Bring Affordable Payment Devices to SMBs in Africa
Mastercard and KaiOS Technologies have announced a partnership to provide small- to medium-sized businesses (SMBs) in emerging markets with affordable payment acceptance devices, starting in Cote d’Ivoire and Nigeria, with plans to expand across Africa and beyond.
According to a press release issued on Sept. 25, the partnership aims to address the challenges faced by SMBs in adopting digital payments, such as the high cost of traditional payment terminals and the complexity of technical implementation. The collaboration combines Mastercard’s payment technology and global network with KaiOS’s affordable smart feature phones to empower even the smallest businesses to accept digital payments.
Jorn Lambert, Chief Product Officer at Mastercard, emphasized the importance of inclusivity in the digital economy: “Acceptance fuels a successful digital economy, so it’s critical that we meet people where they are today and move them forward together. Whether it’s a micro-merchant in Cote d’Ivoire or an enterprise in Indonesia, our goal is to make it as easy for merchants to accept digital payments as it is for consumers to make them.”
Through this partnership, SMBs will be able to use Mastercard QR Pay by Link to accept digital payments, with plans to introduce Tap & Go contactless technology in the near future. Sebastien Codeville, CEO of KaiOS Technologies, highlighted how the collaboration breaks down barriers for small businesses: “By bringing Mastercard’s secure payment technology to affordable internet phones running KaiOS, we’re unlocking new opportunities for small businesses and entrepreneurs, allowing them to participate in modern commerce more fully.”
This partnership builds on Mastercard’s efforts to improve payment acceptance by working with startups focused on creating low-cost solutions for small businesses. Programs like Start Path offer mentoring and collaboration opportunities for startups, helping to advance innovations in digital payments and drive economic inclusion.
