Mastercard has continued to use partnership as a strategy to win more market shares as competition hits up in the payment industry.

The New York-based payment firm and fintech giant OPay have entered a strategic partnership to drive wider financial inclusion and boost economic prosperity by opening up digital commerce to millions of people across the Middle East and Africa.

The collaboration enables OPay consumers and merchants in the region – including Algeria, Morocco, Egypt, Nigeria, Ethiopia, Kenya, Pakistan, South Africa, and the UAE – to engage with brands and businesses anywhere across the globe, thanks to a Mastercard virtual payment solution linked to the OPay eWallet.

This partnership is the latest milestone in Mastercard’s emerging market strategy where the technology company is collaborating with growing Fintech’s such as OPay to expand access to digital payments, enable multiple lifestyle services, create new pathways to financial inclusion and support the next generation of super-apps.

“As the leading fintech in the Middle East and Africa, we are delighted to be partnering with Mastercard as we continue on our journey to promote financial inclusion, helping to open up the global economy to more consumers and businesses across the Middle East, and Africa,” Yahui Zhou, CEO of OPay, said.

Consumers are increasingly looking for seamless user experiences on a single platform offering easier interactions to complete various day-to-day needs, including sending and receiving money, ordering food and groceries, organizing transport, lending, investing and listing items they wish to sell.

In the initial phase of this partnership, OPay customers will benefit from the Mastercard virtual payment solution linked to their OPay wallets, to shop at well-known global brands for leisure, travel, accommodation, entertainment, streaming services and more. The service is available regardless of whether or not the customer has a bank account. It also allows small business owners to purchase from suppliers abroad and pay with the secure virtual payment solution.

Mastercard has partnered with different payment outlets across the globe, including cryptocurrency platforms – a strategy Amnah Ajmal, Executive Vice President for Market Development, Mastercard EEMEA, said will help to create an interconnected global payments ecosystem.

“At Mastercard, our innovation strategy is rooted in partnerships to support inclusion at scale. Our partnership with OPay demonstrates our commitment to supporting payments providers across the world to create an interconnected global payments ecosystem that benefits an array of consumers with unique needs,” he said.

Since its operations started in 2018, OPay’s active users have grown to 15 million in dozens of markets in which it operates. The company processes millions of transactions per day on average. In Nigeria alone, where OPay takes a significant market share, users have saved billions of US dollars in the last four years through credit-linked savings accounts from their mobile wallets and small loans from lenders that use its platform.

Plans are in place to launch OPay services in other markets in the next three to five years, significantly driving the growth of digital inclusion and digital commerce, while at the same time widening OPay customer inclusion into the global economy.

Mastercard has made a worldwide commitment to financial inclusion, pledging to bring 1 billion people and 50 million micro and small businesses – with a focus on 25 million women entrepreneurs – into the digital economy by 2025. With OPay’s market share in the MEA regions, Mastercard has a high chance of attaining its 2025 goal.

Several people across the world are still of the view that Nigeria is still facing various national security challenges, despite strong strategic initiatives, hence would need a robust security policy action plan to keep the country intact.

They feel so, because of the following: institutional collapse, failure of critical institutions of state, internal systems collapse and failure of key internal safety systems.

These are worrying signals of a failed state and concerned institutions and corporate bodies in the country are rallying support to steady the polity.

Among such corporate entities is the Computer Professionals of Nigeria (CPN), a registration council in the country, which has expressed deep concerns and decided to awaken the consciousness of a strong national security.

To this end, the umbrella body of all computer practitioners in the country has decided to hinge the theme of its forthcoming annual Information Technology, IT Professionals’ Assembly/AGM on the cause.

Speaking to newsmen during the Assembly which took place between May 18-19, 2002 at the NAF Conference Centre Kado, Abuja, the President of the council, Kole Jagun disclosed the reason for the theme “Leveraging IT for National Security and Economic Stability”.

Jagun stated the theme was to draw home the consciousness that National security was important not only to the government, but to the nation as a whole.

He said, “IT deals with the use of electronic computers and computer software to convert, store, protect, process, transmit, and securely retrieve information.

“Today, the term information has ballooned to encompass many aspects of computing and technology, and the term has become very recognizable. Specifically, IT will help enable the nation to identify potential threats, share information more readily”.

The CPN hinted that the assembly would consider, among other things, the relationships and the interplays, and how Information Technology (IT) could be leveraged to improve national security and economic stability.

Jagun went further to state that from the deliberations, the Assembly would come up with formidable findings as well as critical recommendations that would   be   geared   towards   deploying   advanced and reliable   technologies   through   effective partnerships   that   promote   economic,   technological,   and   national competitiveness.

It’s noteworthy IT Assembly is an exclusive networking event for senior IT decision   makers,   consultants,   upcoming   IT   entrepreneurs,   start–ups,   practitioners,   teachers   and   systems   administrators.

The Assembly   is also a platform for some of the industry’s most innovative technology distribution and service providers to showcase their products and services; and for participants to appreciate the emerging technologies, trends, and risks that are associated with transforming the various industries using IT.

According to Jagun, “the annual Assembly has taken a new structure in line with the dictates of the moment ushered by the outbreak of the COVID-19 pandemic. In year 2020, for example, it held purely as a virtual event, and last year, the event held as a hybrid event.

“This year’s edition will also be a hybrid event as it is the practice with programmes of its kind all over the world.” he added.

The CPN President was optimistic that because IT plays a significant role in the security and economic stability of any country, it would continue to strengthen Nigeria’s national security against future threats and cyber-attacks.

He said, “Information technology can help countries to identify potential threats, share information easily, and protect mechanisms in them”.

Acknowledging the inevitable impact of IT on national growth and development, it’s needless to state that the Nigerian government is required to expedite actions to ensure every authority domiciled in the country leverages the numerous benefits of the tool in question.

This can only be duly achieved by making strong and wholesome policies that would encourage and improve IT operations, as well as ensure adequate implementation.