by Editorial Team
Airtel Africa’s mobile money business receives additional $100M from Mastercard
Mastercard Inc will invest $100 million in Airtel Africa’s mobile money operations valuing the business at $2.65 billion, the London-listed company said on Thursday.
“The Mastercard virtual (non-plastic) card allows Airtel Money customers, even those without a bank account, to make payments to local and global online merchants that accept Mastercard cards, while ensuring that the customer’s financial data is always secure and private,” they said in a statement on Thursday.
Mastercard will hold a minority stake in Airtel Mobile Commerce, in line with Airtel Africa’s plan to monetise the mobile money business by selling up to a 25% stake in the unit, the company said.