500,000 traders to benefit from Mastercard’s ‘Tap on Phone’ payment technology

NAIROBI, Kenya, Jan 20 –More than 500,000 new merchants in Africa are set to benefit from a digital payment technology that enables mobile phones to act as payment terminals.

The Network International’s ‘Tap on Phone’ technology powered by Mastercard Payment Gateway Services (MPGS), gives small and medium-sized businesses (SMEs) the ability to accept payments through a smartphone.

Under the initiative, customers will simply tap their card or device to make the payment on the SME merchant’s phone, with each transaction processed through MPGS.

 Gaurang Shah, Senior Vice President, Head of Products, EEMEA, Mastercard said the initiative is aimed at driving the growth of Small Micro Enterprises through digital innovative ways.

“Small businesses are crucial for systemic economic recovery, and by connecting more SMEs to digital commerce tools and affordable payment acceptance solutions, we are putting in place a strong foundation that can facilitate sustainable growth. Mastercard is dedicated to empowering every business with the technology and solutions they need to thrive,” said 

Andrew Key, Group Managing Director – Acquiring, Network International, on his part, reiterated the firm’s commitment to providing solutions that will enable the growth of small businesses across Africa.

  “As a leading enabler of commerce, we remain committed to connecting SMEs, the backbone of any economy, with innovative solutions that will drive wider acceptance across the region. We are proud to partner with Mastercard to grow the opportunities for entrepreneurs through the launch of Tap on Phone,” he said