Mastercard announces Fintech Express for MEA companies

Mastercard has launched Fintech Express within the Middle East along with Africa, an application created to facilitate emerging financial technology organizations launch and grow. Mastercard’s experience, engineering, and global network will be leveraged for these startups to be able to focus on innovation controlling the digital economy, according to FintechZoom.

The program is split into the 3 key modules being – Access, Build, and Connect. Access involves enabling controlled entities to attain a Mastercard License as well as access Mastercard’s network through a streamlined onboarding process, according to FintechZoom.

Under the Build module, businesses can become an Express Partner by creating exceptional tech alliances as well as benefitting from all of the rewards offered, according to FintechZoom.

Start-ups looking to include payment solutions to their collection of products, may quickly connect with qualified Express Partners on the Mastercard Engage web portal, and go living with Mastercard in a matter of days, underneath the Connect module, according to FintechZoom.

Becoming an Express Partner helps models simplify the launch of charge solutions, shortening the process from a few months to a matter of days. Express Partners will also appreciate all the benefits of turning into a qualified Mastercard Engage Partner.

“…Technological advancement and innovation are manuevering the digital financial services industry as fintech players have become globally mainstream as well as an increasing influx of these players are actually competing with large traditional players. With present day announcement, we are taking the next step in further empowering them to fulfil the ambitions of theirs of scale as well as speed,” stated Gaurang Shah, Senior Vice President, Digital Payments & Labs, Middle East as well as Africa, Mastercard.

Several of the early players to possess signed up with forces and created alliances inside the Middle East and Africa under the brand new Express Partner program are actually Network International (MENA); Ukheshe and Nedbank (South Africa); and 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 of Long-Term Mastercard partner and mena, will serve as exclusive payments processor for Middle East fintechs, therefore enabling and accelerating participants’ regional sector entry, according to FintechZoom.

“…At Network, innovation is core to the ethos of ours, and we believe that fostering a hometown society of innovation is crucial to success. We’re content to enter into this strategic collaboration with Mastercard, as part of our long term commitment to support fintechs and strengthen the UAE payment infrastructure,” said Samer Soliman, Managing Director, Middle East – Network International, according to FintechZoom.

Mastercard Fintech Express falls within the umbrella of Mastercard Accelerate that is comprised of four main programmes namely Fintech Express, Start Developers, Engage, and Path.