Mobile Money Rwanda Limited (MoMo Rwanda) and Mastercard have collaborated to introduce the “Virtual Card by MoMO.” This new virtual payment solution empowers MoMo customers to make secure and convenient e-commerce transactions across the global network of Mastercard-accepting merchants.
Through this partnership, millions of MoMo customers in 13 African countries, including Rwanda, now have access to Mastercard’s global payment infrastructure. This aligns with the growing demand for digital payment options, cross-border transactions, and a more connected financial ecosystem.
“The combination of partnership and innovation enables us to bring greater possibilities to people and small businesses in Africa,” said Amnah Ajmal, Executive Vice President of Market Development at Mastercard. “These solutions provide more access, create more connections, generate confidence and grow the digital economy, ultimately benefiting the whole ecosystem.”
The Virtual Card by MoMo is linked directly to the customer’s MTN MoMo account and can be accessed from any mobile device. This feature allows users to securely manage their online payments by entering a PIN before completing a purchase, ensuring a seamless and safe transaction experience.
“We are excited to launch the Virtual Card by MoMo in partnership with Mastercard & I&M Bank,” said Chantal Kagame, CEO of Mobile Money Rwanda Ltd. “As global online transactions continue to grow rapidly, we are committed to ensuring our customers stay ahead with innovative payment solutions that create value for them.”
This collaboration also involves I&M Bank (Rwanda) Plc, which will provide technical support and contribute to advancing financial inclusion and literacy in line with Rwanda’s cashless economy agenda.
“We believe that the Virtual Card by MoMo will transform the way Rwanda currently transacts and increase efficiency and prosperity for the Rwandan population,” said Benjamin Mutimura, CEO of I&M Bank (Rwanda) Plc.
The launch of the Virtual Card by MoMo is a significant milestone in Rwanda’s digital payment landscape, empowering MoMo customers to participate in the global e-commerce marketplace securely and conveniently.
