Mastercard Partners with Scale to Accelerate Fintech Development in Africa

Mastercard has announced a strategic collaboration with Scale, a fintech start-up specializing in issuer orchestration, aimed at accelerating the development of fintech businesses in Africa and the Middle East.

This partnership aims to overcome the technical and commercial obstacles faced by fintechs, aggregators, payment service providers (PSPs), and telecommunications operators when launching payment programs.

Mastercard and Scale to accelerate fintech innovation

The objective of this collaboration is to allow companies to focus on their core business by offering them simplified solutions to launch new financial products and services. Mastercard, leveraging its market expertise, and Scale, with its understanding of the fintech landscape, will provide assistance in securing BIN sponsorships, designing card programs, and evaluating profitability models.

Amnah Ajmal, Executive Vice President of Market Development for EEMEA at Mastercard, highlighted the company’s commitment to working with local players to promote innovative payment solutions. This initiative aims to bridge the digital divide, strengthen financial inclusion and improve access to financial services.

A partnership to stimulate growth

Miranda Perumal, co-founder and CEO of Scale, said this partnership solves a major problem by simplifying the complex processes associated with launching payment solutions.

This collaboration will provide fintech companies with a single point of contact, allowing them to focus on growing their business while taking advantage of the streamlined services offered by Scale and Mastercard.

Impact on the ecosystem

The Mastercard-Scale partnership will bring significant benefits to a wide range of ecosystem players.

For financial institutions, it will facilitate collaborations within the card value chain. Merchants will benefit from easier access to digital financial products and services, while governments will be able to encourage the reduction of cash transactions, thereby boosting economic participation and GDP growth. Finally, consumers will have a greater choice of financial products and services that meet their needs, contributing to increased financial inclusion in the region.

__

(Featured image by AKuptsova via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in infos.ma. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us