Mastercard is set to expand its Masterpass QR mobile payments facility to Kenya, following the launches currently taking place in Nigeria, Ghana, Rwanda, Uganda and Tanzania.
The payments giant is currently rolling-out the QR payment facility to merchants across Africa, which enables the acceptance of mobile payments from a wide range of handsets and wallet systems. Mastercard estimates in Kenya alone the ability to use QR codes will provide 150,000 new merchants with the ability to accept mobile payments.
MasterPass QR is designed to work in conjunction with major mobile payment services for smartphones and feature phones. By 2020, the company estimates 40 million merchants across Africa will use the service.
Daniel Monehin, Mastercard Division President for sub-Saharan Africa said: “Kenya is leading the charge in financial inclusion, with the World Bank reporting that 75 percent of its citizens over the age of 15 having [sic] a bank account. MasterPass QR has the potential to drive that number up further and more rapidly due to the penetration of mobile devices in the market.
“Technology is playing an important role to ensuring all citizens have access to solutions that help move them beyond cash.”
Mastercard in January launched a mobile payments and marketplace platform, 2KUZE, in Kenya, Uganda and Tanzania. The service enables farmers in those countries to buy, sell and receive payment for goods on feature phones.