KaiOS, a prominent operating system for affordable devices, partnered with Mastercard to offer electronic payment options. Mastercard and KaiOS will provide cheaper payment acceptance devices in Cote d’Ivoire and Nigeria to promote a more inclusive, linked global economy.
It’s still difficult for small and medium-sized businesses (SMEs), especially in developing markets, to accept digital payments. Traditional payment systems are expensive and technically difficult to set up. This, in turn, makes it harder for these companies to really take part in the digital economy, which slows growth for everyone.
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Digital payment revolution with KaiOS and Mastercard
KaiOS and Mastercard are helping millions of SMEs accept digital payments with KaiOS devices. With Tap & Go contactless payments technology, even small companies may soon use their low-cost devices to accept Mastercard QR Pay by Link payments safely and efficiently.
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Enrolment is straightforward. Business owners can enrol using their KaiOS phone. SMEs can use various digital payment solutions after registering and authenticating with a one-time password.
We’re enabling small businesses and entrepreneurs to participate in contemporary commerce by adding Mastercard’s secure payment technology to cheap Internet phones running KaiOS. This idea lowers obstacles and makes an affordable consumer device a vital commercial tool, “Codeville said.
In July 2024, Connection Africa announced that Codeville was selling feature phone-like merchant payment devices to underserved merchants for digital payments. KaiOS’s Mastercard partnership followed experimental initiatives in informal transport in Nigeria and with Côte d’Ivoire merchants.
Read also: Zambia’s ChitChat introduces virtual cards powered by Mastercard
Unlocking Opportunities: Mastercard in Africa
Mastercard and KaiOS will first operate in African markets with partners, including Touch and Pay Technologies (TAP) and Wizzit, to improve merchant access.
TAP CEO Olamide Afolabi said the company is always looking for innovative solutions that enhance the accessibility and convenience of financial services for underserved populations.
“By integrating KaiOS into our platform, we’re enabling millions of users with feature phones to access seamless digital payment solutions and financial services that were previously out of reach. This partnership is vital in furthering our mission to drive financial inclusion and empower communities through technology,” Afolabi said.
According to Wizzit COO Dirk Bruynse, partnering with KaiOS and Mastercard will expand secure payment acceptance options throughout Africa and beyond.
“This partnership will enable us to scale our switching capabilities and deliver innovative payment solutions that cater to the evolving needs of businesses of all sizes. We are confident that this collaboration will set new benchmarks for efficiency and drive greater financial inclusion,” Bruynse added.
Mastercard also teamed up with Onafriq in April 2024 to offer safe payments to African consumers and SMEs. In February 2024, the multinational payments company invested $200 million in MTN Group’s fintech unit.