Kopo Kopo, a Kenya-based merchant service provider, has teamed up with MasterCard to provide Masterpass QR payment facility to more than 250,000 MSMEs over the next five years across the 11 markets in Sub-Saharan Africa.
MasterCard believes that the collaboration with Kopo Kopo will strengthen and expand their merchant network.
The partnership also supports MasterCard’s commitment made by MasterCard in February this year to empower more than 150,000 merchants in the market.
The new electronic payment option, which eliminates need to carry cash or even a payment card, allows customers pay for goods and services from their mobile phones.
Masterpass QR will provide an efficient and secure acceptance solution for MSMEs and a convenient consumer experience.
Kopo Kopo will deliver the service in cooperation with Diamond Trust Bank, as part of its acquiring strategy in the country.
Kopo Kopo CEO Ken Kinyua said: “We’re passionate about giving small businesses the tools they need to grow and prosper, and we see the mobile device as a way to financially enable millions of merchants in Africa.
“The use of mobile solutions is not expected to decline in Sub-Saharan Africa, especially if you consider that by 2022 there will be over 1 billion mobile subscribers in the region according to recent research. And these prospects become more feasible for merchants given the fact that mobile services and devices are becoming more affordable.”