INTELLIGENT BRANDS // Mobile Technology
Mastercard invests in new datacentres aligning with South African Reserve Bank digital agenda
Gabriel Swanepoel , Southern Africa Country Manager , Mastercard range of tailored products and services . The initiative is vital and timely , because , according to McKinsey , Africa still operates primarily as a cash-based economy , with cash accounting for 90 % of all transactions .
As a result , consumers can be locked out of many economic activities , have extremely limited retail choices , and cannot access credit , thereby restricting overall economic growth . The digital evolution in payments helps bridge divides within the financial ecosystem and provide solutions that cater to various market segments , including fintech , cybersecurity , retail , and e-commerce .
Mastercard announced the completion of significant new technological infrastructure that will enable the tech company to process transactions locally and drive the modernisation of South Africa ’ s payments industry . The project is the latest major investment that Mastercard has made in technology and partnerships in South Africa that are set to further improve the country ’ s payment ecosystem , ensuring a seamless experience for both Mastercard partners and consumers .
The new technologies include the launch of new datacentres , which will enable the processing of local transactions even more efficiently and securely . Mastercard ’ s priorities and investments are closely aligned with South African Reserve Bank , SARB national digital transformation agenda , Vision 2025 , focusing on enhancing the digital ecosystem and supporting the African continent through locally relevant technology .
“ This is a significant milestone for Mastercard in South Africa , and the continent ’ s wider modernisation journey , “ said Gabriel Swanepoel , Southern Africa Country Manager , Mastercard .
“ A strong digital ecosystem is a top priority for our partners , policymakers and customers . That ’ s why we have been committed to ensuring a resilient and world-class payments infrastructure for decades . And that ’ s why we will continue our work to make SARB ’ s Vision 2025 digital transformation agenda a reality .”
Mastercard ’ s long-term commitment to South Africa has seen it grow its acceptance footprint nationwide by 200 % since 2021 and bring various forms of digital payments options including QR codes , ATMs and point-of-sale terminals . This has provided secure payment choices for consumers and promoted business efficiency . Furthermore , Mastercard is on a mission to include 1 billion individuals in the digital economy globally by 2025 .
Mastercard is diversifying its approach to payments in South Africa , going beyond traditional card payments to offer a diverse
Through local partnerships , Mastercard develops , incubates , and scales locally relevant solutions including simplifying mobile payments with partner solutions such as VodaPay Masterpass and Nedbank ’ s Money Message ; collaboration with payment facilitators like iKhokha to enable card acceptance by rolling out low-cost card machines ; and its work with Standard Bank and Simlify Commerce to launch SimplyBlu to help small businesses enter the world of electronic trading .
Commerce is evolving , from the way people pay to the currency they choose to use . With investments in resilient financial systems infrastructure , diverse fintech solutions , local and regional partnerships , and dedication to building financial inclusion , Mastercard is shaping the future of digital payments in South Africa and the broader African continent .
Mastercard is a global technology company in the payments industry . Using secure data and networks , partnerships , its innovations and solutions help individuals , financial institutions , governments , and businesses realise their greatest potential . p
62 INTELLIGENTCIO AFRICA www . intelligentcio . com