Mastercard has announced a strategic partnership with Scale, an issuer orchestration partner, to accelerate the growth of digital payment solutions across Africa and the Middle East. This collaboration aims to streamline market deployment for fintech companies, helping them overcome key technical and commercial challenges.
The partnership will enable fintechs, aggregators, enablers, payment service providers (PSPs), and telcos to launch payment programs more efficiently by focusing on their core business while Mastercard and Scale handle the complexities.
"At Mastercard, we are dedicated to working with local ecosystem players to drive innovative payment solutions, bridge the digital gap, enhance financial inclusion, and improve access to financial services across the region. Scale’s deep understanding of the fintech landscape makes them an ideal partner in achieving these goals," said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.
Together, Mastercard and Scale will assist fintech companies and other ecosystem participants in securing BIN sponsorships, designing sustainable unit economics, commercializing payment programs, and delivering exceptional customer experiences. By co-creating inclusive value propositions, the partnership aims to support long-term growth in the digital payment landscape.
The collaboration will evolve into a technology proposition, enabling any tech company to acquire the Mastercard issuing capability through Scale.
“Fintech companies move at speed and require commercially viable collaborations with experienced companies that cater to a cost-sensitive market. Through our exciting partnership with Mastercard, we are solving a major pain point and providing a single point of contact while absorbing the complexities of seeking a bank BIN sponsor, third-party processor and other payment solution providers. This combined ecosystem service allows fintech players to focus on their core business, and us to focus on ours – streamlining processes, enabling payments and supporting the program’s growth to earn revenues faster,” said Miranda Perumal, Co-Founder & CEO, Scale.
Mastercard will plug in its managed services into the partners’ systems and run their card program implementation from end to end. In the post-launch period, Scale will assist the partners in growing their portfolios, driving revenues and achieving profitability by understanding consumer behaviors, market dynamics and competitors.
The partnership will bring a variety of advantages not only to fintech companies but also to a wide range of other players across the ecosystem.
For financial institutions, it will facilitate collaborations with stakeholders in the card value chain. Meanwhile, merchants will enjoy easy access to digital financial products and services that will allow them to grow their businesses. For governments, the new financial offerings available in the market will contribute to reducing cash-based transactions, enabling more people and businesses to participate in economic development and boosting GDP growth. Finally, consumers will have more choice of financial products and services that meet their needs.
No comments:
Post a Comment