The African digital payment ecosystem signed a soluble memorandum of understanding that served as a Fintech solution in the Kenyan marketplace. The Kenyan finance marketplace reveals FinTechs’ collaboration between PesaLink and Mastercard creating an adaptable digital payment solution.
PesaLink announces the MoU the FinTechs collaborated to bolster Kenyans with an affordable and secured remittance system. Mastercard on the other hand is enthused to work with the Kenyan FinTech industry especially the PesaLink system the Kenyan Bankers Association established to solve digital payments.
The PesaLink system has developed to feature around the African FinTech industry for digital payment innovation.
Several practitioners have jumped on the PesaLink system for digital payment solutions. The Kenyan Bankers Association already have thirty-one of its members to integrate their banking system with PesaLink for soluble cash remittance. PesaLink has reportedly gained millions of customers in the Kenyan FinTech marketplace including other telecom companies, payment service providers, the SACCOs, etc.
The MoU between the FinTech companies serves as a partnership where PesaLink will access Mastercard’s system and take advantage of its technology as well as innovate person-to-person payment systems. PesaLink CEO Gituku Kirika confirmed the MoU they signed to establish digital payment solutions for the Kenyan FinTech marketplace that continue to expand across Africa sooner than later.
Kirika revealed the Kenyan payments ecosystem is “developing at a rapid pace and customer demands are growing. To deliver the choice, security, and flexibility that Kenyans need, we are delighted to collaborate with Mastercard to create a range of payment solutions that are easy to access, secure, affordable, and always available.”
The collaboration between the Fintechs appears to be irrelevantly lucrative per the similarity of the digital payment approach. The newly developed PesaLink features such as person-to-person payment, direct-to-customer payment gateway, disbursement, agent banking solutions designed for government remittance and individual payments, and many other features.
Kirika continued to describe how promising the collaboration with Mastercard is “pivotal and polar in providing millions of Kenyans with financial solutions that meet their needs, furthering our goal to accelerate the adoption and usage of digital payments in the country.”
On the other hand, PesaLink depends on Mastercard’s cyber intelligence and Technical support that aids PesaLink’s digital payment solution for Kenyans. Mastercard has reportedly featured its services in the African markets to leverage FinTech solutions to the unbanked population of Africa.
Kenya is a specific remittance marketplace Mastercard collaborated with PesaLink to innovate the FinTech sector with the in-depth dynamics of banking Mastercard has experienced over the years. Mastercard is focused to develop the Kenyan marketplace with PesaLink’s digital payment solution.