Mastercard To Empower African and Middle East FinTechs
Mastercard has launched a new programme aimed at providing tailor-made solutions that boost market entry and expansion for fintech in Africa and the Middle East.
Fintech Express will leverage the power of partnerships and Mastercard’s expertise, technology, and global network to help fintech companies focus on innovation that drives the digital economy.
The program is designed for all types of fintech – established companies wanting a direct license from Mastercard, as well as fintech startups with the ambition to innovate through collaborating with ready-to-go Mastercard Engage partners.
From a startup perspective, the “Build” part of the programme enables fintech as processors and enablers to become Express Partners by building unique tech alliances and benefitting from all the advantages that Mastercard provides.
“Connect”, meanwhile, is aimed at fintech startups that are looking to add payment solutions to their suite of products, and helps them easily connect with qualified Express Partners available on the Mastercard Engage web portal, and go live with Mastercard in a matter of days.
Gaurang Shah, senior vice president of digital payments and labs in the Middle East and Africa at Mastercard said Startups are forming diverse collaborations with traditional financial institutions, and in the process manage to enhance competitiveness, while also bringing services and products to market that can have a real impact on consumers.
Mastercard is playing a central role in making fintech partnerships a reality as a single technology provider. Technological advancement and innovation are steering the digital financial services industry, where fintech players are becoming globally mainstream and an increasing influx of fintech players are competing with large traditional players. With the announcement, they are taking the next step in further empowering them to fulfil their ambitions of scale and speed.