Tech in Africa
TNM Malawi, a mobile money provider is now running TNM Mpamba a virtual payment solution enabling virtual local and international e-commerce transactions. This is after partnering with MasterCard. This marks a first for the country in terms of fintech.
This virtual payment solution differs from plastic card payments and is facilitated through an interlinked payment platform. TNM Mpamba is a move away from plastic card payments enabling payments to both local and global brands with online shops.
Payments enabled on this new platform are Netflix subscriptions, Facebook advertising, Amazon online shopping, and travel and bill payments. The platform will generate a code on this mobile money platform allowing users to settle domestic and international payments from e-commerce brands online. Mpamba’s customers get a 16 digit card number, a security code, and an expiration date.
Christopher Sukasuka, TNM Mpamba’s general manager mentioned an unrivaled service network from the combination of TNM Mpamba’s wide agent network and robust network of MasterCard in Malawi and globally. Mobile money platforms across Africa have added new functionalities expanding person-to-person money transfers on cross-border remittances.
Mastercard, TNM Mpamba has collaborated with the National Bank of Malawi to contextualize and adapt key information in the Malawi market.
