Mastercard, Centenary Bank and M-KOPA Solar roll-out first of its kind energy solution in Uganda
October 25, 2018
QR payments solution launched to help provide simple and affordable payments for people and businesses in Uganda
KAMPALA, Uganda, 25 October 2018 -/African Media Agency (AMA)/- Mastercard in partnership with M-KOPA Solar and Centenary Bank, celebrated the first ‘pay-as-you-go’ QR transaction this week, officially launching the initiative, which provides a simple and inexpensive way to power the homes and businesses of Ugandans. M-KOPA, which already provides affordable, safe and clean energy to three million people in East Africa has launched Mastercard’s Quick Response (QR) payment technology in Uganda to facilitate and extend the reach of its groundbreaking pay-as-you-go solar program.
The launch of the program took place in Entebbe and was attended by Ajay Banga, president and chief executive officer of Mastercard, who made a special visit to Uganda to be part of the milestone ceremony.
Developed by Mastercard Labs, the new Mastercard’s pay-as-you-go API solution will empower M-KOPA and Centenary Bank to bring new payment innovation to the market, combining low cost QR technology – an open and interoperable technology, with the Internet of Things (“IoT”) to lead more secure and efficient payments in the market. Customers are enabled to make payments from their mobile phones by scanning a QR code or using an USSD interface.
Centenary Bank’s Managing Director, Mr. Fabian Kasi highlighted that, “This tripartite partnership shall go a long way in enhancing our bank’s efforts geared towards promoting the use of clean and safe energy by our customers in the various communities we serve”.
He added, “The mode of payment is an affordable solution for our customers, many of whom live in rural areas with little or no access to electricity and other necessities including structured financing which this campaign addresses.”
Mastercard, www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter: @MastercardMEA and @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the MEA Engagement Bureau.
Nkemnji Global Tech
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