TNM Mpamba Partners With Mastercard To Launch A Virtual Payment Solution In Malawi

TNM Mpamba on Tuesday (Aug. 10) announced the launch of a Mastercard virtual payment solution that will enable its mobile money wallet customers to make safe local and international eCommerce transactions.

In a press release announcing the initiative, TNM Mpamba General Manager Christopher Sukasuka said the combination of TNM Mpamba and global payments provider Mastercard will expand financial services access and put the international marketplace within the reach of local consumers. “The new solution functions like a debit card that can be used for all types of eCommerce payments. When you combine the wide agent network of TNM Mpamba with the robust network of Mastercard within Malawi and globally, you get an unrivalled service network,” he said.

Through the partnership, consumers can engage in eCommerce transactions through mobile wallets and will have access to a myriad of transactions that require card payments, including subscription streaming on Netflix, advertising on Facebook and online shopping on Amazon.

To protect customer’s financial data, a number of security measures have been put in place including sending a 16-digit card number, security code and expiration date to users that will all be required to complete payments using the virtual payment solution.

Related news: Airtel Africa Gets $100 Million Boost From Mastercard

Mastercard is one of the established payment providers on the African continent, and over the years the firm has engaged in multiple partnerships and collaborations to expand its regional reach. In April 2021, the payments provider injected $100 million into payment platform Airtel Africa, securing a 3.75 percent stake in its business. Airtel Mobile Commerce BV (AMC BV) — the mobile money business of telecom Airtel Africa — is now valued at $2.65 billion.

According to Amnah Ajmal, executive vice president of market development of Mastercard MEA, advancing its digital partnerships strategy in MEA with TNM Mpamba is a step further in ensuring that both companies “unlock the true potential of inclusive growth across the continent.”