Two digital payment technology companies -Mastercard and DPO Group- yesterday launched a partnership to enable businesses in Ghana accept various digital payments to help expand their businesses.
Under the alliance, DPO would leverage Mastercard’s digital payments technology to allow businesses to receive diverse digital payment methods safely, seamlessly and securely from any country and in desired currencies.
The companies would help Small and Medium Enterprises (SMEs) to process payments through a simple integration to a single platform protected against online fraud as well as support refunds and chargebacks.
Additionally, the entrepreneurs would have access to DPO’s stores and other digital privileges and receive training on how to maximise business growth and manage risks using smart digital payments.
The Country Manager for Mastercard, BossmanKwapong, said the COVID-19 pandemic has highlighted the importance of digitisation of payments, especially in enabling retail and commerce transactions.
He said e-commerce, the value of digital transactions increased by 120 per cent between February 2020 and February 2021 and that the collaboration was expected to scale-up e-commerce growth this year and beyond.
“As a technology leader in the payment space, the increase in demand for digital solutions, renders us an opportunity to provide solutions that enable businesses to accept payments for their products and services through more innovative, convenient, secure, and seamless means.
“Through this collaboration, we have created a powerful digital ecosystem in which businesses of all sizes can pivot to online channels, get paid, improve cash flow, attract more customers – all while staying safe and protected from cyber risks and fraud,” he said.
The collaboration, MrKwapong said was part of efforts to advance Mastercard’s worldwide commitment to financial inclusion and bring one billion people and 50 million micro and small business into the digital economy by 2025.
For his part, the Head of Business Development and Country Manager, Manasseh Narh, said the collaboration was well thought out, considering the needs of businesses and lessons taught by the COVID-19 pandemic.
“We know our products can support the ambition and growth goals of Ghanaian business of all sizes, and we look forward to partnering to offer secure payment technology in a rapidly growing digital payment market place,” he said.
BY JONATHAN DONKOR
