MTN MoMo South Africa Expands Mastercard Partnership to Boost Digital Payments and Strengthen Security

MTN MoMo South Africa  has expanded its strategic collaboration with global payments network Mastercard  to introduce new digital payment features and enhanced security measures to its fintech platform. The strengthened partnership reinforces both companies’ shared commitment to advancing financial inclusion and broadening access to secure digital transactions across the country.

Through this new phase of collaboration, MoMo users can now top up their wallets directly using debit or credit cards via Mastercard’s Payment Gateway Services (MPGS) — a first for the platform. The feature offers customers a fast, secure, and convenient way to fund their accounts from anywhere, further embedding digital payments into daily life.

In addition to expanding payment options, Mastercard’s advanced security technologies are being integrated into the MoMo ecosystem. These include real-time fraud monitoring tools and tokenisation — which replaces sensitive payment card details such as card numbers and expiry dates with a unique digital token — ensuring stronger protection and privacy for users while maintaining a seamless transaction experience.

According to MTN’s Q1 2025 results, the MoMo platform serves over 62 million active users across Africa monthly, reflecting its growing influence in the continent’s digital finance landscape. The latest upgrades aim to strengthen MoMo’s position in South Africa’s competitive fintech market by enabling more consumers and small businesses to transact confidently in the digital economy.

MTN’s broader fintech strategy remains focused on extending affordable financial and connectivity services to underserved communities and driving inclusion within the informal economy. The company’s approach emphasizes low-cost transactions and minimal commissions, promoting accessibility and digital empowerment.

As part of this mission, MTN recently introduced a rent-to-own smartphone programme via the MoMo app, allowing customers to purchase 4G or 5G-enabled devices over flexible payment periods of three, six, nine, or twelve months — without credit checks or complex paperwork. The initiative aims to make digital tools more accessible to everyday South Africans.

“These innovations are not just about convenience – they are about inclusion. Many South Africans have limited or no credit history. By using the MoMo Wallet, they can begin to build a financial profile and access services that were previously out of reach.”

– Kagiso Mothibi, CEO, MTN Fintech SA

“Security is central to MTN’s offering. By integrating Mastercard’s advanced fraud monitoring tools, we are strengthening protection for users and building greater trust in digital financial services. These enhancements incorporate Mastercard’s tokenisation technology, which replaces sensitive payment card details such as the 16-digit card number, expiry date and CVC with a unique digital identifier called a token. This supports secure, one-click top-ups and offers users faster, more convenient MoMo Wallet funding with higher transaction success rates.”

– Gabriël Swanepoel, Country Manager for Southern Africa, Mastercard 

The expanded partnership between MTN MoMo South Africa and Mastercard further accelerates efforts to build a trusted and inclusive digital financial ecosystem. By combining MTN’s vast reach with Mastercard’s global payments and cybersecurity expertise, the collaboration aims to create a safer, smarter, and more connected financial environment for millions of South Africans.