Business

Visa, MasterCard Moving Into Mobile Pay in Africa

Published

11 years ago

March 4, 2015

This Nov. 18, 2009 file photo shows credit and bank cards with electronic chips in Gelsenkirchen, Germany. (AP Photo/Martin Meissner, File)

KEN SWEET, AP Business Writer

NEW YORK (AP) — Americans may just be getting used to mobile pay, but consumers in many African countries have been paying with their phones for years. Now payment processors Visa and MasterCard want to get a slice of that market, and are launching card services aimed at Africa’s growing mobile payment industry.

VISA CARD WITH A CELL PHONE

Visa is partnering with African telecommunications company Bharti Airtel to link Visa cards to customers’ mobile phones. While many Africans do not have bank accounts, most have a cell phone — sometimes more than one. Gallup estimates that 80 percent of sub-Saharan African households have a cell phone, while only 2 percent have a landline.

For the past several years, Africans have been using linking their phones to prepaid payment accounts, in order to send money to each other, pay utility bills or buy more airtime.

Now Airtel Money subscribers in Kenya will be able to get a physical Visa card tied to their mobile payment accounts, so they can use their phone’s pre-paid account to shop in stores and online wherever Visa is accepted. They can also use the Visa card at the ATM to withdraw money from their Airtel Money account. Users will enter a PIN number into their phones each time they want to approve a transaction, said Bill Gajda, a Visa executive who works with mobile network operators.

As smartphones become more common on the continent, Apple Pay-like services are likely to be introduced as well, he said.

The service will be expanded to Gabon, Ghana, Madagascar, Rwanda, Seychelles and Tanzania later this year.

EVERY EGYPTIAN TO GET A MASTERCARD

MasterCard announced a partnership with the Egyptian Government this week that will eventually attach a MasterCard to every Egyptian’s national identification card.

In Egypt, there are more cell phones than people. Mobile penetration in the country was 113 percent in 2012, according to the Egyptian Ministry of Communication. Like their sub-Saharan counterparts, a growing number of Egyptians use their cellphones as mobile payment accounts. Less than 5 percent of Egypt’s 54 million citizens have a formal bank account, according to the World Bank.

As part of the agreement with MasterCard, the government will issue digital ID cards which can be used to pay for services including government fees, mobile bills, and items in stores. It will pay salaries and social benefits through the card as well. Each Egyptian will be able to link that mobile payment account to a MasterCard number that will eventually be displayed on the ID.

MasterCard did not have a timetable for when the service will be introduced, and the company said the privacy issues related to having a national ID attached to a credit card number will still need to be resolved.

MasterCard also said it is doing mobile pay deals in Zimbabwe and Nigeria to allow certain banking customers in those countries to receive funds sent by family and friends abroad directly into mobile pay accounts. Those with companion MasterCard debit cards can then withdraw money at ATMs and pay for goods and services anywhere MasterCard is accepted.

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Oakland Post: Week of March 18 – 24, 2026

The printed Weekly Edition of the Oakland Post: Week of March 18 – 24, 2026

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March 22, 2026

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Advice

Financial Wellness and Mental Health: Managing Money Stress in College 

While everyone’s financial situation is unique, several common sources of stress have the potential to strain your financial health. These include financial and economic uncertainty, existing debts, unexpected expenses, and mental or physical health changes. Financial stress may differ from situation to situation, but understanding the factors contributing to yours may help you begin to craft a plan for your unique circumstances.

Published

2 weeks ago

March 17, 2026

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Sponsored by JPMorganChase

As a college student, managing financial responsibilities can be stressful.

If you’ve found yourself staying up late thinking about your finances or just feeling anxious overall about your financial future, you’re not alone. In one survey, 78% of college students who reported financial stress had negative impacts on their mental health, and 59% considered dropping out. While finances can impact overall stress, taking steps to manage your finances can support your mental, emotional and physical well-being.

When it comes to money, the sources of stress may look different for each student, but identifying the underlying causes and setting goals accordingly may help you feel more confident about your financial future.

Consider these strategies to help improve your financial wellness and reduce stress.

Understand what causes financial stress

2. Determine your financial priorities

Start by reflecting on your financial priorities. For students this often includes paying for school or paying off student loans, studying abroad, saving for spring break, building an emergency fund, paying down credit card debt or buying a car. Name the milestones that are most important to you, and plan accordingly.

3. Create a plan and stick to it

While setting actionable goals starts you on the journey to better financial health, it’s essential to craft a plan to follow through. Identifying and committing to a savings plan may give you a greater sense of control over your finances, which may help reduce your stress. Creating and sticking to a budget allows you to better track where your money is going so you may spend less and save more.

4. Pay down debt

Many students have some form of debt and want to make progress toward reducing their debt obligations. One option is the debt avalanche method, which focuses on paying off your debt with the highest interest rate first, then moving on to the debt with the next-highest interest rate. Another is the debt snowball method, which builds momentum by paying off your smallest debt balance, and then working your way up to the largest amounts.

5. Build your financial resilience

Some financial stress may be inevitable, but building financial resilience may allow you to overcome obstacles more easily. The more you learn about managing your money, for instance, the more prepared you’ll feel if the unexpected happens. Growing your emergency savings also may increase resilience since you’ll be more financially prepared to cover unexpected expenses or pay your living expenses.

6. Seek help and support

Many colleges have resources to help students experiencing financial stress, like financial literacy courses or funds that provide some assistance for students in need. Talk to your admissions counselor or advisor about your concerns, and they can direct you to sources of support. Your school’s counseling center can also be a great resource for mental health assistance if you’re struggling with financial stress.

The bottom line

Financial stress can affect college students’ health and wellbeing, but it doesn’t have to derail your dreams. Setting smart financial goals and developing simple plans to achieve them may help ease your stress. Revisit and adjust your plan as needed to ensure it continues to work for you, and seek additional support on campus as needed to help keep you on track.

 JPMorgan Chase Bank, N.A. Member FDIC