Mastercard has launched Fintech Express in the Middle East and Africa, a program developed to facilitate emerging financial technology businesses launch and expand. Mastercard’s experience, engineering, and global network will likely be leveraged for these startups to find a way to focus on innovation steering the digital economy, according to FintechZoom.
The program is split into the 3 primary modules being – Access, Build, and Connect. Access involves enabling controlled entities to reach a Mastercard License as well as access Mastercard’s network by way of a seamless onboarding process, according to FintechZoom.
Under the Build module, businesses can be an Express Partner by creating unique tech alliances and benefitting right from all the benefits provided, according to FintechZoom.
Start-ups looking to include payment solutions to their collection of items, may effortlessly link with qualified Express Partners available on the Mastercard Engage net portal, and also go living with Mastercard in a few days, below the Connect module, according to FintechZoom.
Becoming an Express Partner helps brands simplify the launch of charge solutions, shortening the process from a few months to a matter of days. Express Partners will also enjoy all of the advantages of becoming a qualified Mastercard Engage Partner.
“…Technological improvement as well as uniqueness are steering the digital financial services industry as fintech players have become globally mainstream plus an increasing influx of these players are actually competing with large conventional players. With present day announcement, we’re taking the next phase in further empowering them to fulfil their ambitions of scale as well as speed,” stated Gaurang Shah, Senior Vice President, Digital Payments & Labs, Middle East as well as Africa, Mastercard.
Some of the first players to possess signed up with forces as well as developed alliances in the Middle East and Africa underneath the brand new Express Partner program are Network International (MENA); Ukheshe and Nedbank (South Africa); in addition to the Diamond Trust Bank, DPO Group, Tutuka and Selcom (Sub Saharan Africa), according to FintechZoom.
As an Express Partner, Network International, a leading enabler of digital commerce in Long-Term Mastercard partner and mena, will serve as extraordinary payments processor for Middle East fintechs, thus allowing as well as accelerating participants’ regional market entry, according to FintechZoom.
“…At Network, development is core to our ethos, and we think that fostering a neighborhood society of innovation is vital to success. We are pleased to enter into this strategic collaboration with Mastercard, as a part of our long term commitment to help fintechs and enhance the UAE payment infrastructure,” said Samer Soliman, Managing Director, Middle East – Network International, according to FintechZoom.
Mastercard Fintech Express falls under the umbrella of Mastercard Accelerate that is actually made up of four main programmes namely Fintech Express, Start Developers, Engage, and Path.