Tanzania’s virtual payment platform, Tigo Tanzania, has entered into a strategic partnership with Selcom and Mastercard to launch an online digital payment solution system in the country.

The three industry leaders, according to the terms of the partnership, will see them revolutionize the digital payment ecosystem in the eastern African country by enabling convenient online payments globally through the Tigo Mastercard virtual service via the Selcom’s card-as-a-service (CaaS) platform.

The virtual card allows for Tigo consumers to easily make payments at any online purchase point where Mastercard is accepted without the need for a bank account or credit card.

Tigo’s Chief Officer for Mobile Financial Services (MFS) Angelica Pesha, who made the announcement on Friday, said the launch of the virtual card will ensure Tigo’s ability to provide its customers access to products and services previously a preserve of physical credit card holders while diversifying its mobile money portfolio.

”As the leading digital lifestyle company in Tanzania, we are always on the look out for such partnerships as our customers will now be able to complete online transactions that requires Mastercard credentials, while using funds from their Tigo Pesa wallets,” she said.

“It also means that this service will allow customers to quickly and conveniently pay for goods and services in the international market.”

“Additionally, the partnership will result in a wide range of cutting-edge digital payment solutions being introduced in Tanzania and connect Tigo customers in Tanzania to a global online market place across multiple digital payment use cases and provide access to Mastercard’s global network of merchants,” Pesha said.

Selcom’s Executive Director, Sameer Hirji, who also expressed his enthusiasm for what he calls a groundbreaking collaboration, said:

“At Selcom, we take pride in our unwavering commitment to innovation and excellence in the payment industry. We are thrilled to join forces with esteemed partners like Tigo Pesa and Mastercard to unveil our state-of-the-art mobile money wallet-linked virtual card.”

Kenyan insurtech startup,
Turaco, has entered into a partnership with Airtel Mobile Money and Prudential Assurance Uganda, to launch a low-cost hospital cash insurance product.

Known as “Hospital Sente,” the product, according to Airtel Mobile Commerce Managing Director, Japheth Aritho, is aimed at “increasing access to insurance for underserved communities, and low-income individuals and families.”

“Hospital Sente offers beneficiaries a cash pay-out if they are hospitalized as it is designed to provide affordable coverage for unserved individuals and families conveniently through Airtel’s Mobile money platform,” Aritho said in a statement on Thursday.

“We are excited to partner with Prudential Uganda to offer this innovative and affordable insurance product to our customers.”

“We believe that this partnership will help increase access to insurance for low-income households and help protect families against unexpected events,” Aritho said.

General Manager of Turaco,
Hamza Mutebi, in his statement, said:

“Most Ugandans today remain unreached by mainstream insurance, all while being the most vulnerable to financial shocks caused by illness, accidents and death.

“Strategic partnerships like these remain critical to enabling underserved Ugandans access to affordable insurance that provides a safety net in their times of need and ultimately peace of mind.”