The collaboration aims to boost the growth of Somali businesses by providing them with a secure and efficient way to conduct online transactions.

The payment gateway will enable businesses to expand their customer reach, boost revenue, and compete effectively on a global scale.

Shehryar Ali, MasterCard’s Country Manager for East Africa and Indian Ocean Islands, emphasized the partnership’s significance, stating that it will enable Somali businesses to tap into the growing e-commerce market.

The platform aligns with MasterCard’s broader goal of integrating 50 million micro and small businesses into the digital economy by 2025.

Premier Bank’s involvement in this initiative is part of its 2030 strategy to create a comprehensive payment ecosystem benefiting both cardholders and merchants.

The rapid growth of online shopping in Africa, fueled by increased internet penetration and the impact of the COVID-19 pandemic, presents a significant opportunity for Somali businesses.

With a growing mobile phone and internet user base, the Premier Payment Gateway is well-positioned to meet the evolving needs of Somali consumers who are increasingly seeking convenient and secure online shopping experiences.