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New online payment system supports businesses under AfCFTA

Manasseh Narh.png DPO Head of Business, Manasseh Narh

Fri, 28 Jan 2022 Source: thebftonline.com

To enable local businesses and entrepreneurs to harness the Africa Continental Free Trade Area (AfCFTA) to grow their businesses market, Mastercard in partnership with the DPO Group – a leading African digital payments operator – has launched an online digital payment system to facilitate seamless transactions for businesses across the continent.

Among other things, the DPO pay solution technology has an objective to help businesses grow their customer base online with an e-commerce website. The special e-commerce vehicle, DPO Store, allows small, medium, and micro-enterprises to connect and sell; thus selling products and services, and accepting payments online from the website easily in multiple currencies.

According to Mastercard, this partnership will enhance its ability to support small and medium enterprises (SMEs) in Ghana to grow their businesses and increase revenue by tapping into new payment flows on the African continent.

With Operation Network in about 20 countries on the continent, the DPO payment system will leverage Mastercard’s digital technology to enable merchants securely and seamlessly accept a wide range of digital payments including mobile wallets, QR codes, USSD, banking cards, point of sale devices, among others in any currency of choice.

DPO’s Head of Businesses Development and Country Manager for Ghana, Manasseh Annor Narh, indicated that e-commerce has seen significant growth in recent years; with the value of digital transactions increasing by 120 percent between February 2020 and 2021.

“The adoption and use of mobile money have been central to this growth, and DPO’s payments platform supports this payment method alongside traditional currencies and payment methods.

“Ghana is one of the most innovative countries on the continent when it comes to digital and e-commerce. I believe Ghana presents a huge market to any business with a digital focus, and DPO Group is excited to have received its operating license from the Bank of Ghana. And so, we can only do more to support businesses in Ghana to grow,” he said.

In addition, he emphasized that as part of the partnership DPO and Mastercard will also provide training for Ghanaian firms and entrepreneurs on how to maximize business growth and manage risk with smart use of digital payments.

Country Director-Mastercard, Bossman Kwapong, on his part said: “We recognize the overwhelming pressure that business owners are currently facing and are committed to supporting them as they adapt to meet ever-evolving customer needs. This collaboration has the potential to empower every business with the tools they need to take their operations online and be more competitive in the ever-expanding digital economy”.

Innovation and Digital Payment Solution

The Mastercard, DPO Group are seeking to unlock opportunities connecting businesses to the digital economy, driving economic equality, and enabling businesses to survive and thrive stronger than before; and that is empowering everyone.

Innovative offers include acceptance of payments on any website: immediate access to major e-commerce website builders; allows payments using cards issued by Visa, Mastercard, American Express, Diner’s Club, and Discover Cards.

Source: thebftonline.com