Mastercard has partnered with Scale, an issuer orchestration partner, to accelerate the market deployment of fintech companies across Africa and the Middle East.
This collaboration aims to remove significant technical and commercial obstacles that fintech companies, aggregators, enablers, payment service providers (PSPs), and telecom companies face when launching payment programs.
By alleviating these barriers, fintech can focus on their core operations and efficiently bring new products and services to the market.
Amnah Ajmal, Executive Vice President of Market Development at Mastercard, emphasized their dedication to working with local players to grow innovative payment solutions in the region.
The partnership with Scale, known for its deep understanding of the fintech landscape, is seen as a crucial step in bridging the digital gap, enhancing financial inclusion, and improving access to financial services.
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Mastercard and Scale Supporting Fintech and Ecosystem Players
Together, Mastercard and Scale will help fintech companies and other ecosystem participants secure BIN sponsorships, create sustainable unit economics, and design and commercialize their card and payment programs.
They will also assist in product development, profitability assessment, and delivering exceptional customer experiences. By working closely with their partners, they aim to co-create value propositions that support long-term growth.
The collaboration will eventually evolve into a technology solution, allowing any tech company to acquire Mastercard issuing capabilities through Scale.
This development will be especially beneficial for fintech companies, which require fast and cost-effective partnerships with experienced providers.
Miranda Perumal, Co-Founder & CEO of Scale, highlighted that their partnership with Mastercard addresses a major pain point by offering a single point of contact for fintech, simplifying processes, and enabling faster revenue generation.
Mastercard will integrate its managed services into partner systems, overseeing card program implementation from start to finish. After launch, Scale will help partners grow their portfolios, drive revenues, and achieve profitability by understanding consumer behavior, market dynamics, and competition.
This partnership will not only benefit fintech companies but also a broad range of other ecosystem players. Financial institutions will find it easier to collaborate with card value chain stakeholders, while merchants will gain access to digital financial products and services that can help expand their businesses.
Governments will see an increase in digital financial offerings, which will reduce cash transactions and contribute to economic growth. Consumers will enjoy a wider choice of financial products and services tailored to their needs.