The global payment landscape is dynamic and continuously evolving, driven by technological advancements, regulatory changes, and shifting consumer preferences. The ecosystem is shifting towards Open Banking-powered payments that are low-cost, instant, and interoperable. Countries such as India, with UPI and RuPay, and China, with UnionPay, WeChat Pay, and Alipay, are successfully promoting cost-effective domestic payment solutions that empower both businesses and individuals.
Mauritius is undergoing a similar transformation, with MauCAS transactions considerably increasing as compared to the previous financial year. While this represents significant growth, MauCAS payments still account for only 7-9% of overall card transactions, highlighting substantial potential for expansion and broader adoption.
Despite this progress, businesses in Mauritius continue to face significant challenges in managing their businesses efficiently. The fees remain excessively high, creating an additional financial burden for merchants who should ideally be focused on growing their businesses, acquiring new customers, and retaining existing ones. Businesses also struggle with reconciling payments collected from multiple channels, the lack of affordable loyalty programs, and the absence of accessible marketing tools to drive engagement and customer retention. These hurdles not only limit the growth of businesses but also hinder the overall adoption of digital payments.
Recognising these challenges, Absa's foray into Open Banking is a strategic move to bridge this gap and create a thriving ecosystem that seamlessly connects individuals and businesses. Spark Business is one of the initiatives addressing this need.
Spark Business is a revolutionary first-in-Mauritius offering for businesses allowing them to collect real-time, low-cost, omni-channel payments to any settlement account of their choice straight from a smartphone application.
By creating a bank and device agnostic digital payment solution, Absa is reinforcing its leadership in the evolving financial landscape of Mauritius.
A practical solution for businesses
Spark business eliminates the need to maintain a physical infrastructure and consolidates multiple payment methods in a simple interface, which includes MauCAS QR, Tap to Pay via Cards and Pay by SMS. The app also enables recording of cash & credit transactions saving their time for end of day reconciliations.
Beyond payments, Spark Business empowers merchants with tools to record cash and credit transactions for easier reconciliations, monitor real-time performance via sales dashboards and transaction insights, create and manage outlets, user roles, receive instant voice alerts, and eliminate physical receipts through a digital receipt system.
The infra-lite way of collecting payments, reduced reconciliation efforts, instant settlements for QR transactions coupled with tools to manage their businesses efficiently, not only improves the cash flow cycle but also helps businesses to focus on growth and profitability, thereby making the solution very practical.
A growing impact on the Mauritian market
Since its launch in late Q4 of 2024, Spark Business has gained rapid momentum. Over 220 businesses have already adopted the platform, processing more than 65,000 transactions—a clear sign of product-market fit and growing demand for flexible digital solutions.
What’s particularly encouraging is the diverse range of early adopters—from large retail outlets to small & medium enterprises—indicating that Spark Business resonates across industries and business sizes.
A strategic move for Absa Mauritius
Yes, Spark Business is a cornerstone in Absa Mauritius’ broader digital transformation strategy. It reflects our commitment to redefining value delivery—from traditional banking services to ecosystem-driven, technology-led solution that seamlessly connects individuals and businesses in Mauritius.
This initiative extends our reach beyond core banking customers, strengthens our position in the digital payments space, and opens new opportunities to deepen engagement with the local business community.
The rise of digital payments has created an opportunity for banks to go beyond conventional services and offer technology-driven solutions that provide real value to businesses. Spark Business is a clear example of this shift, helping Absa increase transaction volumes, attract new business customers, and strengthen its presence in the growing digital economy.
As the financial services industry continues to evolve, Spark Business positions Absa Mauritius at the forefront—meeting businesses where they are, with the tools they need to thrive in the digital age.
Future enhancements to drive further growth
While we’re excited about what’s ahead, our future developments will continue to focus on delivering even greater value to businesses.
We are continuously innovating to ensure Spark Business evolves in alignment with merchants’ needs. Our efforts are concentrated on enhancing affordability, deepening customer engagement, and improving operational efficiency for businesses.
We remain committed to building a future-ready platform that delivers real value—not just in payments, but across the full spectrum of business management.
A step forward for Digital Banking in Mauritius
Digital banking for businesses in Mauritius is evolving rapidly, shaped by a tech-savvy population, increasing smartphone penetration, and growing demand for seamless, real-time financial services. As businesses and consumers alike look for smarter, more efficient ways to manage money, the need for flexible and intuitive digital solutions has never been greater.
Financial institutions have a key role to play in driving this transformation—not only by digitizing traditional services but by reimagining how banking fits into the everyday lives and operations of their customers.
Spark Business is a clear step in that direction. By enabling real-time payments, streamlining operations, and empowering merchants with business insights—all through a mobile app—Absa Mauritius is setting a new benchmark for what digital banking can deliver.
