• MTN Zambia launched a Mastercard-powered virtual card enabling secure global online payments for unbanked users via the MoMo app

• The initiative supports Zambia’s digital transformation goals, enhancing financial control through a dual-wallet system and reflecting broader regional trends in mobile money-driven financial inclusion.

• MTN’s move is part of a 13-country African partnership with Mastercard, positioning it against competitors like Airtel Money, which launched a similar virtual card in 2021.

On December 19, 2025, MTN Mobile Money Zambia launched its Mastercard-powered virtual card, opening global payment access to millions of Zambians. The partnership enables users to transact at over 100 million Mastercard acceptance points worldwide.

Dr Isaac Muhanga, Chief Operating Officer at the Bank of Zambia, hailed the launch as a milestone in strengthening the country’s digital payments ecosystem. UBA Zambia serves as the local BIN sponsor, ensuring regulatory compliance and enabling MTN to issue the virtual cards.

Integrated into the MoMo app, the virtual card enables secure online payments for international services, including streaming platforms, educational tools, social media advertising, and cross-border e-commerce. A dual-wallet system enhances financial control by separating funds for online use from the main mobile money account, adding a layer of security.

This development marks tangible progress under Zambia’s fifth digital transformation pillar, which emphasises inclusive, borderless digital payments. The country’s digital evolution is gaining momentum: as of January 2025, Zambia had 7.13 million internet users—33% of its population—according to DataReportal.

Zambia's initiative aligns with wider African trends, where mobile money has driven significant gains in financial inclusion. As of 2022, the World Bank estimates that 28 per cent of the population in Sub-Saharan Africa had a mobile money account, according to World Bank data.

The MTN-Mastercard partnership is part of an extensive collaboration announced in 2024 that spans 13 African markets. With over 290 million subscribers and 63 million active monthly MoMo wallets, MTN aims to solidify its position as Africa’s leading fintech platform.

This trend reflects a larger movement among mobile operators to integrate with global payment networks and expand digital financial inclusion. In line with this trend, Airtel Money launched its own virtual card in 2021, partnering with Mastercard and Network International to offer the Airtel Money Global Pay card—enabling secure international and domestic payments directly from mobile wallets.

Hikmatu Bilali