• Mozambican financial services provider Letshego has launched a debit card in partnership with Mastercard.
• The card enables secure local and international transactions through Mastercard’s global payment network.
• The initiative aims to support digital transformation and financial inclusion in Mozambique’s cash-dominated economy.

Mozambican financial services provider Letshego has launched a debit card in partnership with Mastercard in Mozambique. The companies said the initiative aims to support the country’s digital transformation and strengthen financial inclusion.

In a statement published on Monday, May 11, Mastercard said the debit card operates on its global payments network. The card allows customers to conduct secure transactions both domestically and internationally wherever Mastercard services are accepted.

Moreover, the card supports everyday payments and enables broader participation in the formal financial system. The initiative comes amid accelerating digital transformation and growing demand for digital payment solutions in Mozambique.

Consumers increasingly use international e-commerce platforms such as Alibaba and Jumia, while others subscribe to streaming services including Netflix and Spotify. However, many unbanked consumers still face difficulties accessing online payment services and digital financial tools.

“By giving more people the tools they need to participate in the digital economy, we help strengthen financial resilience and enable communities to thrive in an increasingly connected world,” said Gabriel Swanepoel, division president for Africa at Mastercard. The initiative also targets small and medium-sized enterprises, which remain a central pillar of Mozambique’s economy.

Reliable digital payment tools can help SMEs expand online sales, secure transactions with customers and suppliers, and access new markets, including international markets. Furthermore, digital payment systems can help formalize economic activity and improve the traceability of financial flows in an economy where cash still dominates a large share of transactions. However, service availability alone may not guarantee widespread adoption of digital financial services.

Several factors continue to influence adoption rates, including user trust, digital literacy levels, access to smartphones and internet connectivity, and service costs. In addition, entrenched consumer payment habits and the persistent use of cash across many segments of the economy could slow adoption.

This article was initially published in French by Isaac K. Kassouwi

Adapted in English by Ange J.A de Berry Quenum