Mastercard and Mozambican financial services provider Letshego have unveiled a new debit card designed to advance the country’s shift toward a more inclusive digital economy.

Launched at a time when only about 22 percent of adults in Mozambique use digital payments, the move marks a significant step toward expanding access to secure, internationally accepted financial services for underserved communities.

According to a joint statement, the collaboration taps into Mastercard’s vast global network to help customers transition from cash-dominated transactions to a traceable financial footprint. The move is expected to improve consumer security while boosting support for local merchants through wider digital payment acceptance nationwide.

The rollout is especially notable as it aligns with Letshego’s 15th anniversary in Mozambique, highlighting the institution’s transformation from a micro-lender into a prominent commercial banking player over the past decade and a half.

The Division President for Africa at Mastercard, Gabriel Swanepoel, said, “Expanding access to secure and reliable digital payments is essential to enabling broader financial participation. The Letshego Debit Card provides consumers with a simple, trusted way to transact, supporting greater inclusion and unlocking long-term economic opportunity. By equipping more individuals with the tools to participate in the digital economy, we are helping to build financial resilience and empower communities to thrive.”

Also, the Chief Executive Officer of Letshego Mozambique, Carlos Nhamahango, said, “As we mark 15 years in Mozambique, this launch reflects our continued commitment to innovation and meaningful local impact. The Letshego Debit Card empowers customers to move beyond cash, transact with confidence, and access financial solutions that support their daily lives and future aspirations. This is a gateway for our customers to build a financial history that was previously out of reach.”

The initiative reflects broader global trends cited in the World Bank’s Global Findex 2025, which shows that although 79 per cent of adults worldwide now have access to financial accounts, more than one billion people remain unbanked. In Mozambique, where formal financial infrastructure is still evolving, the new debit card represents a vital building block for inclusive and sustainable economic growth.