Payment services multinational MasterCard has completed the construction of a significant new technological infrastructure in South Africa. It encompasses the launch of new data centres, which will enable more secure and efficient processing of local transactions.
The infrastructure will help drive the modernisation of South Africa’s payments industry. It closely aligns with the South African Reserve Bank’s (SARB) vision 2025, which focuses on enhancing the digital ecosystem and supporting the region through locally relevant technology.
“The investment also aligns with MasterCard’s strategy of adding one-billion people and 50-million small and microenterprise businesses to the formal digital economy over the next few years,” according to MasterCard Southern Africa country manager Gabriel Swanepoel.
He highlighted how MasterCard has already been operating in South Africa for more than 40 years and is still recording significant growth. “This tells us that the South African environment is robust, resilient and evolving,” he noted.
MasterCard is embracing diversification and is going beyond traditional card payments to offer a diverse range of tailored services. The new infrastructure comes as a new generation of digitally native consumers want to pay for goods and services how, where and when they want.
MasterCard’s acceptance footprint nationwide has increased by roughly 200% since 2021 in different digital payments options, including automatic teller machines and quantity recognition codes, thereby providing secure payment choices and improving business efficiency.
Additionally, MasterCard has also been investing significantly into cybersecurity globally. “The sanctity of the payment system is paramount,” Swanepoel noted, highlighting the importance of ensuring robust security as new channels allow new payment systems.
Trade between African and GCC countries stands at $ 121 billion in 2023, double of what it was in 2016.…
Family members struggling after one week after of Cyclone Chido ripped through the French island territory of Mayotte expressed helplessness…
The United Arab Emirates has launched its orphanage project in Ethiopia's Oromia region on the orders of President Sheikh Mohamed…
In just four months, 100 women have been killed, the majority by males they knew including spouses. Prime Cabinet Secretary…
The Ghanaian entertainment industry is in deep mourning following the sudden death of Bright Owusu, better known as C Confion.…
Since the beginning of December more than five hundred people have lost their lives on the nation's highways. Barbara Creecy,…
This website uses cookies.