Mastercard announces Fintech Express for MEA companies

Mastercard has released Fintech Express in the Middle East along with Africa, an application designed to facilitate emerging financial technology companies launch and expand. Mastercard’s knowledge, technology, and global network will be leveraged for these startups to find a way to focus on development steering the digital economy, according to FintechZoom.

The course is split into the 3 core modules being – Access, Build, and also Connect. Access entails enabling regulated entities to attain a Mastercard License as well as access Mastercard’s network by having a seamless onboarding process, according to FintechZoom.

Under the Build module, businesses can become an Express Partner by building special tech alliances as well as benefitting out of all the rewards provided, according to FintechZoom.

Start-ups searching to include payment solutions to their suite of products, can easily connect with qualified Express Partners on the Mastercard Engage net portal, and also go living with Mastercard in a few days, underneath the Connect module, according to FintechZoom.

Becoming an Express Partner helps models simplify the launch of fee remedies, shortening the task from a few months to a situation of days. Express Partners will in addition appreciate all the benefits of turning into a certified Mastercard Engage Partner.

“‚ĶTechnological improvements as well as innovation are actually manuevering the digital financial services industry as fintech players are becoming globally mainstream and an increasing influx of the players are actually competing with big traditional players. With modern announcement, we’re taking the next step in more empowering them to fulfil their ambitions of scale and speed,” said Gaurang Shah, Senior Vice President, Digital Payments & Labs, Middle East along with Africa, Mastercard.

Some of the first players to possess joined forces and created alliances in the Middle East as well as Africa under the new Express Partner program are Network International (MENA); Nedbank and Ukheshe (South Africa); as well as 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 mena and Long-Term Mastercard partner, will act as exclusive payments processor for Middle East fintechs, therefore making it possible for and accelerating participants’ regional sector entry, according to FintechZoom.

“‚ĶAt Network, development is core to our ethos, and we believe this fostering a hometown society of innovation is vital to success. We are very happy to enter into this strategic cooperation with Mastercard, as a part of our long-term commitment to help fintechs and strengthen the UAE transaction infrastructure,” stated Samer Soliman, Managing Director, Middle East – Network International, according to FintechZoom.

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