Mastercard has announced the expansion of its commercial partnership with Smile ID, Africa’s leading identity verification provider, in a move aimed at accelerating the adoption of secure digital identity solutions across the continent.
The collaboration will support banks, fintechs, telecom operators, and mobile money providers in streamlining customer onboarding, minimizing fraud risks, and increasing access to financial services. It combines Mastercard’s global expertise in digital identity technologies with Smile ID’s verification and fraud-detection capabilities tailored for African markets.
Driving Financial Inclusion Through Trusted Identity
Africa’s digital economy is forecast to reach $1.5 trillion by 2030, but growth is threatened by rising fraud and fragmented identity systems that limit participation. With smartphone penetration expanding rapidly, Mastercard and Smile ID say the partnership will provide scalable solutions to bridge gaps in financial inclusion, fraud prevention, and regulatory compliance.
Mastercard has also taken a minority investment stake in Smile ID, underscoring its long-term commitment to digital inclusion and innovation across the continent.
“This partnership with Smile ID is a pivotal step in advancing digital trust and inclusion in Africa. As fragmented identity systems slow businesses and lock millions out of the digital economy, Smile ID’s innovative identity platform complements Mastercard’s mission to build secure and inclusive digital ecosystems,” said Selin Bahadirli, Executive Vice President, Services, Mastercard EEMEA.
Key Benefits of the Collaboration
Through the integration of Smile ID tools into Mastercard’s digital platforms, customers will gain access to:
- Instant, secure digital onboarding of new users across African markets.
- Advanced fraud detection and prevention, including protection against synthetic identity fraud.
- Regulatory compliance with both local and international KYC (Know Your Customer) and AML (Anti-Money Laundering) standards.
- Cross-border scalability, enabling businesses to expand more easily across African and global markets.
Smile ID’s partnerships with local governments and trusted data providers enhance the platform’s reliability, offering near real-time onboarding with continent-wide reach.
“Synthetic identity fraud is costing African banks and lenders hundreds of millions of dollars every year,” said Mark Straub, CEO of Smile ID. “By combining our technology with Mastercard’s global infrastructure, we can give financial institutions the confidence to securely onboard the next 300 million Africans—instantly.”
The Mastercard–Smile ID collaboration is expected to play a significant role in enabling inclusive finance, cross-border commerce, and digital transformation across Africa. With stronger identity systems, the continent could unlock opportunities for millions of unbanked individuals and accelerate its digital growth trajectory.
