Masterpass QR now live in 7 markets in Middle East and Africa

Mastercard has successfully been able to introduce and roll-out Masterpass QR in seven markets in the Middle East and Africa (MEA). This momentum is part of the company’s commitment to delivering efficient and cost effective payment solutions to Micro, Small and Medium Enterprises (MSMEs) in the region.

The significance of Masterpass QR and the contribution already made in these markets were highlighted at the just-concluded Mobile World Congress that brought the best minds from the global business and technology community in Barcelona last week.

Front of mind will be the recent research that reinforces how mobile financial services can potentially contribute $3.7 trillion to emerging economies in the next ten years. With mobile penetration figures on the rise and predictions that smartphone adoption in the region will jump to 65 per cent (467 million devices) by 2020, it goes without saying that mobile-driven and supported solutions will have a significant impact on financial inclusion.

“Mastercard remains fully committed to delivering solutions that build inclusive ecosystems and consequently drive a cashless society.The most effective way to ensure the continued evolution of products and services that develop robust and resilient digital payment systems is by forging strong partnerships,” Mr Gaurang Shah, Lead for Digital Payments and Innovation Labs in Middle East and Africa, Mastercard said.