Mastercard, Zamtel partner to enable digital payments on the Mastercard network

Under the collaboration, Zamtel will launch a suite of Mastercard products, including a Mastercard virtual card, a physical debit card, and Mastercard QR, enabling Mobile Money customers to pay for products and services from merchants that accept Mastercard in Zambia and abroad. The partnership aims to drive financial inclusion and improve access to the digital economy.

According to the press release, with a Mastercard virtual payment solution linked to Zamtel Mobile Money e-wallets, consumers and small businesses can make payments to local and global online brands and merchants. For in-store payments, customers will receive a physical Mastercard debit card linked to their Zamtel Mobile Money e-wallet, which they can use to withdraw money from ATMs and pay at the POS for goods, services, and settle their bills. Customers will also have access to Mastercard QR, an interoperable payment solution that will enable them to make face-to-face payments at outlets by scanning the Mastercard QR code displayed at checkout or by entering a merchant identifier.