Tigo Tanzania,a leading digital lifestyle telecommunications company, Selcom , a payment service provider and Mastercard Inc. have announced a partnership aimed at revolutionizing the digital payment ecosystem by enabling convenient online payments globally through the Tigo Mastercard virtual service via the Selcom’s card-as-a-service (CaaS) platform.
This partnership seeks to empower Tigo Pesa customers to transact on global payments platforms and benefit from Mastercard’s technology which will enable new digital commerce opportunities for consumers and merchants, through simple and secure payment experiences.
Tigo’s Chief Officer for Mobile Financial Services (MFS) Angelica Pesha said that: ”As the leading digital lifestyle company in Tanzania we are always on the lookout, for such partnerships, our customers will now be able to complete online transactions that requires Mastercard credentials, while using funds from their Tigo Pesa wallets. It also means that this service will allow customers to quickly and conveniently pay for goods and services in the international market, we hope this partnership will improve user experience and accessibility to a vast array of MFS services”.
“This partnership further cements our position as a provider of choice for Mobile financial services and we believe this venture will increase the number of transactions for cross-border business, this showcases that Tigo Pesa is a fully-fledged financial service in Tanzania. The virtual card allows for Tigo consumers to easily make payments at any online purchase point where Mastercard is accepted without the need for a bank account or credit card. To create the virtual card, customers should dial Tigo Pesa menu (*150*01#) or use Tigo Pesa App and follow the simple steps. Once the card is created, the virtual card is ready for use for online payments.” Remarked Pesha.
The launch of the virtual card will ensure Tigo’s ability to provide its customers access to products and services previously a preserve of physical credit card holders while diversifying its mobile money portfolio.
Additionally, the partnership will result in a wide range of cutting-edge digital payment solutions being introduced in Tanzania and connect Tigo customers in Tanzania to a global online marketplace across multiple digital payment use cases and provide access to Mastercard’s global network of merchants.
Selcom’s Executive Director, Sameer Hirji expressed his enthusiasm for the groundbreaking collaboration, “At Selcom, we take pride in our unwavering commitment to innovation and excellence in the payment industry. We are thrilled to join forces with esteemed partners like Tigo Pesa and Mastercard to unveil our state-of-the-art mobile money wallet-linked virtual card. By constantly investing in our infrastructure and refining our market presence, we aim to deliver cutting-edge, dependable solutions that foster growth and success for our partners and customers alike.”
Ngozi Megwa, Senior Vice President, Digital Partnerships EEMEA, Mastercard said, “ Mastercard recognizes that consumers today are looking for simple and secure financial products that add more value to their daily lives. Our innovation approach is focused on enabling the digital transformation of our partners so that millions of customers can enjoy seamless access to a global payments eco-system with a superior user experience. Our technology is fully equipped to empower our partners to launch innovative and relevant solutions that will create a strong value proposition for all our customers. With our deepened relationships with the telecommunications industry players, this partnership with Tigo embeds our commitment to further expand customer choice and access to digital commerce.”
Tigo Pesa customers can request the virtual card from the Tigo Pesa menu by dialing *150*01#, then select Financial Services (7), Select Tigo Pesa Cards (7), Select Tigo Pesa Mastercard (1) to proceed, or on the Tigo Pesa Mobile app Select Financial Services tab, Select Tigo Pesa Cards tab, then Select Tigo Pesa Mastercard to proceed. Additionally, Tigo Pesa will offer its customers multiple card creation options, which are; One-Time-Use and Validity Card which has an option of 90 Days. Once the card is created, the virtual card is ready for use for online payments.