$11m research lab to open this year.

Author:Dalby, Alexa
Position:Brief article
 
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MasterCard is set to open its first ever African research laboratory in Nairobi, raising Kenya's status as a financial technology hub.

The facility, to cost $nm, will be equipped to develop and deploy new payments systems such as mobile money apps and cashless payments. It will fast-track the best ideas from concept through prototype, pilot and into commercialisation.

Kenya has piloted mobile money platforms and e-commerce and payment innovations such as M-Pesa. The lab will be MasterCard's eighth, after Silicon...

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