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Mastercard solidifies partnership with Angola banking sector

from PEDRO AGOSTO in Luanda, Angola
LUANDA – MASTERCARD has partnered the Empresa Interbancária de Serviços S.A (EMIS) to boost the digital economy and accelerate digital transformation in Angola.

Through the partnership, Mastercard will roll out a co-branded contactless card with EMV (Europay, Mastercard and Visa) technology.

This enables cardholders – including consumers and small business owners – in Angola to have one card that makes cross-border payments (within and outside Angola), thus aiding in the development of an interoperable payment system.

Also known as the Interbank Service Company, EMIS is the financial infrastructure operator of the Angolan Payment System, responsible for the interbank network for the network of ATMs and Point-of-Sale (POS) terminals.

It is also the clearing house for banks’ direct debit and funds transfer operations, and a Mobile Virtual Process Operator (MVPO) in Angola.

Through the partnership, Angolan banks may utilise Mastercard’s loyalty platform, national fraud and risk management solution, and Mastercard Payments Gateway Services, to support e-commerce businesses and process all kinds of online transactions.

“At Mastercard, our innovation strategy includes collaborating with like-minded partners to power an inclusive, digital economy that benefits everyone, everywhere,” said Mark Elliott, Division President, Sub Saharan Africa, at Mastercard.

José Matos, Chief Executive Officer, at EMIS, said Angola continues to make significant progress in the financial services sector, and the partnership with Mastercard seeks to accelerate this growth.

“Through the partnership, we are committed to introducing the broad benefits of a full-fledged interoperable payment system as soon as possible, creating an inclusive digital and financial ecosystem for Angolans,” Matos said.

Digital transformation and the growth of the information and communication technologies (ICT) sector are at the heart of Angola’s recent strategy spanning numerous sectors.

The government has classified them as an important element in its socio-economic development, an essential factor in its fight against poverty and the social exclusion of marginalised groups, and a key driver of modernity.

In 2022, the Minister of Telecommunications, Information Technologies and Social Communication, Manuel Homem, reported that the Angolan Government assumed responsibility for promoting and accelerating the Single Digital Market in Africa, and the business environment.

As a result, the government has focused efforts on driving and supporting technological modernisation to ensure good governance, improved financial inclusion, as well as economic and social welfare.

Mastercard’s partnership with EMIS is in line with its worldwide commitment to financial inclusion to bring 1 billion people – including 50 million micro and small businesses and 25 million women entrepreneurs – into the digital economy by 2025, through initiatives and partnerships.

– CAJ News

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