Mastercard buys Oltio from Standard Bank

Mastercard has bought Oltio, a mobile payments technology company, from South Africa’s Standard Bank Group. The acquisition is the culmination of a long-standing relationship with Oltio – a start-up which pioneered and patented several mobile payments and banking solutions. Today, the technology enables consumers to authenticate Masterpass digital wallet purchases in South Africa using their bank PIN and mobile phone.

Over the coming months, Mastercard will use Oltio’s technology, people and infrastructure to enhance and scale its existing suite of digital solutions for merchants and issuers in cash-orientated Emerging Markets.


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