KaiOS Technologies has announced a strategic collaboration with Mastercard to bolster digital payment solutions in emerging markets.
The partnership aims to provide a range of affordable payment acceptance devices, starting in Cote d’Ivoire and Nigeria, ultimately fostering a more inclusive and connected global economy.
Despite the digital payment revolution, small and medium-sized enterprises (SMEs) in developing regions continue to face barriers when it comes to adopting these technologies.
High costs associated with traditional payment terminals and the complexities of technical implementation have left many businesses struggling to integrate digital payments into their operations. As a result, these SMEs often find it challenging to participate in the digital economy, hindering inclusive growth.
The collaboration between KaiOS Technologies and Mastercard seeks to change this landscape by enabling millions of SMEs worldwide to accept digital payments through KaiOS devices.
With this initiative, even the smallest of businesses can utilize low-cost devices to process transactions securely and conveniently, leveraging Mastercard’s QR code, Mobile Point-of-Sale (mPOS) solutions, and Tap & Go contactless payment technologies.
Enrollment in the program is designed to be straightforward. Business owners can easily register using their KaiOS-powered phones. After entering their credentials and authenticating with a one-time password, SMEs gain access to a variety of digital payment options, streamlining the process of accepting payments.
“Acceptance fuels a successful digital economy, so it’s critical that we meet people where they are today and move them forward together,” stated Jorn Lambert, Chief Product Officer at Mastercard. “Whether it’s a micro-merchant in Cote d’Ivoire or an enterprise in Indonesia, our goal is to simplify the payment acceptance process for merchants. We’re excited to collaborate closely with KaiOS Technologies to leverage our technology and expertise to drive growth in emerging markets globally.”
Sebastien Codeville, CEO of KaiOS Technologies, echoed this sentiment, emphasizing the mission to connect underserved communities with the digital world. “By integrating Mastercard’s secure payment technology into affordable internet phones running KaiOS, we’re unlocking new opportunities for small businesses and entrepreneurs, enabling them to engage more fully in modern commerce. This innovation reduces barriers and transforms a consumer device into a powerful business tool.”
This partnership further strengthens the alliance between Mastercard and KaiOS Technologies, which has been expanding its reach in emerging regions. Currently, KaiOS Technologies collaborates with major carriers, mobile network operators, and manufacturers, with plans to include acquiring banks, payment facilitators, fintechs, and more. Previously, KaiOS Technologies joined Mastercard’s prestigious startup engagement program, Start Path, to enhance digital inclusion through a variety of payment solutions.
As part of this extended collaboration, the focus will initially be on African markets, with partnerships including Touch and Pay Technologies (TAP) and Wizzit to improve access for local merchants.
Olamide Afolabi, CEO of TAP, remarked, “We are always seeking innovative solutions that enhance the accessibility and convenience of financial services for underserved populations. Our partnership with KaiOS and Mastercard is a game-changer for our customers, particularly in emerging markets. By integrating KaiOS into our platform, we’re enabling millions of feature phone users to access seamless digital payment solutions and financial services that were previously out of reach.”
Dirk Bruynse, COO of Wizzit, expressed enthusiasm for the collaboration, stating that the partnership will expand secure payment acceptance solutions across Africa and beyond.
“This partnership will allow us to scale our switching capabilities and deliver innovative payment solutions that meet the evolving needs of businesses of all sizes, setting new benchmarks for efficiency and driving greater financial inclusion.”
