Mastercard’s operations in South Africa have experienced significant growth, as the country is home to an estimated 2.6 million micro, small, and medium enterprises. From 2021 to the end of 2023, the card acceptance rate has shown substantial increase, highlighting the impact of innovative technology on transactions that benefit both consumers and merchants.
However, Mastercard’s efforts extend beyond payment solutions to support SMEs in getting paid, accessing capital, and embracing digital solutions in a safe and secure manner. Through partnerships with local governments, fintech companies, and startups, Mastercard is expanding solutions that are making a positive impact on the region’s financial ecosystem. This collaborative approach aims to create a community of stakeholders who can work together to drive sustainable and lasting change, as explained by Swanepoel.
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