Leading digital payments company Skrill announced the launch of an online payments platform to drive digital inclusion in emerging markets. By partnering with Skrill, mobile network operators enable consumers to engage with global online eCommerce, thereby increasing average revenue per user (ARPU). For global online brands, Skrill will deliver access to hundreds of millions of currently unreachable new consumers in emerging markets.
As Europe’s first FCA-regulated eMoney issuer, with 13 years’ experience in digital payments, Skrill is uniquely positioned to change how people in emerging countries transact and engage digitally.
MTN, the South African-based multinational mobile telecommunications company, is the first operator to roll out the service. This enables the 18.4 million active users of MTN’s mobile wallet to make payments to merchants, digital gaming sites and social media. The service will launch in Ivory Coast and Rwanda, followed by roll out across MTN’s Africa-wide estate.
Skrill’s revolutionary platform has multiple benefits for mobile operators. It offers a value-added service that helps them differentiate their business in regional markets and drive subscribers to data packages, helping to further increase average revenue per user and encourages customer loyalty, extending the length of the customer relationship.
Global internet brands can benefit from Skrill’s emerging markets strategy, with access to hundreds of millions of new consumers in Central and South America, Africa and Asia. These people are currently unable to make payments, either because their credit cards do not work, or because, in many cases, they are unbanked. In addition, chargeback protection provides compelling and risk-free emerging market engagement for online brands.
WANT TO BUILD A FINANCIAL EMPIRE?
Subscribe to the Global Banking & Finance Review Newsletter for FREE Get Access to Exclusive Reports to Save Time & Money
By using this form you agree with the storage and handling of your data by this website. We Will Not Spam, Rent, or Sell Your Information.
Nilesh Pandya, SVP of Emerging Markets at Skrill, commented, “Today, there are hundreds of millions of consumers who want to be a part of the digital revolution, but simply do not have the means to pay. Our partnership with MTN enables its 18.4 million mobile wallet customers to enjoy the benefits of digitisation that those in developed markets take for granted, and provides an impetus for MTN’s remaining 200 million mobile subscribers to embrace mobile payments.
“Skrill is revolutionising digital markets by driving universal engagement in the digital world. This ground-breaking launch brings together leading mobile operators and online businesses, enabling global brands to connect with consumers in emerging markets, and leverage the true power of digital transactions.”
Pieter Verkade, MTN Group Chief Commercial Officer, added, “Our partnership with Skrill is another important step in our journey to offer customers the distinct experience of our mobile money service. We have been impressed by Skrill’s innovative and technology-led approach and through this partnership, MTN is enabling global digital payments, further enhancing our mobile money wallet offering. After Ivory Coast and Rwanda, the service will be extended to Benin and Uganda, with other markets to follow soon thereafter. ”