Exploring the Aggregator Enhancement Program: A Mastercard Foundation Partnership
The Aggregator Enhancement Program (AEP) is a Mastercard Foundation-funded project aimed at increasing digital financial inclusion in Sub-Saharan Africa. This multi-year program is run together with local partners, including mobile money operators, banks, digital payments platforms and independent payment service providers.
The AEP in Action
The program seeks to enable financial inclusion for individuals who use or are interested in using digital banking and payments services. The AEP works by helping local partners develop, test, and deploy payment solutions that can enhance the services they offer.
The program includes a number of different initiatives, such as:
- Skills and capability building for personnel in local partner organisations
- Investment in tools and technology for digital banking and payments
- Incentives and subsidies for local partner organisations to encourage adoption of digital banking and payments
- Research and data collection to monitor progress and review success
These initiatives are designed to help increase access to financial services for individuals who may not have had access to them before.
The Benefits of the AEP
The AEP seeks to drive increased digital banking and payments adoption in the region. By enabling access to financial services, individuals can use digital payment solutions to manage their money more effectively, make payments securely, and access a range of banking and insurance services they may not have been able to access before.
The program is designed to help local partner organisations increase their reach, improve customer services, increase customer trust, and drive the adoption of digital financial services in the region.
Conclusion
The Aggregator Enhancement Program is a collaborative effort between the Mastercard Foundation and local partners to increase access to digital banking and payments services in Sub-Saharan Africa. The program’s initiatives will enable local partner organisations to develop, test, and deploy financial solutions that can enhance their services and reach and achieve financial inclusion for individuals in the region.