Mastercard has signed a seven-year partnership agreement with Tanzania-based point-of-sale (PoS) terminal operator Selcom to roll out multiple payment services across the country.
Under the agreement, 17,000 Selcom PoS terminals as well as its ATM network will accept both local and international payments and cash withdrawals with Mastercard cards.
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The move is intended to allow fast and secure transactions at more payment acceptance locations in Tanzania.
Selcom also plans to launch a Mastercard card that can be linked to a mobile wallet in order to allow cash withdrawal along with in-store and online payments.
Furthermore, merchants will get access to the Mastercard Payments Gateway Services platform, which facilitates acceptance of web payments from local and international users.
Existing Tanzanian customers of more than twenty banks and mobile network providers associated with Selcom will also gain access to other services such as virtual cards and Mastercard debit and prepaid cards.
Mastercard division president for Sub-Saharan Africa Raghav Prasad said: “With the wider variety of payment options at consumers’ fingertips, it is equally important to ensure that they are able to use these solutions wherever they may be paying for goods or services.
“In order for us to narrow the gap and ensure Tanzanians have access to relevant financial tools, our approach with Selcom is to build a stronger payment ecosystem.”
