Mastercard has partnered with Scale, an issuer orchestration partner, to speed up fintech market entry in Africa and the Middle East.
The collaboration will help fintech companies, aggregators, PSPs, and telcos overcome technical and commercial barriers to launching payment programs. This will allow them to focus on core activities and bring products to market more efficiently.
Mastercard and Scale will assist companies in securing BIN sponsorships, designing and commercializing payment programs, and optimizing profitability models.
The partnership will eventually enable tech companies to acquire Mastercard issuing capabilities through Scale.
This collaboration aims to streamline processes and provide a single point of contact for fintechs, reducing complexities in securing partnerships with banks, processors, and other service providers.
It is also expected to benefit financial institutions, merchants, governments, and consumers by enhancing access to digital financial products and supporting economic growth.
“At Mastercard, we are committed to working with local ecosystem players to drive the growth of innovative payment solutions across the region with the aim of bridging the digital gap, enhancing financial inclusion and improving access to financial services. With its in-depth knowledge of the fintech landscape, Scale is our ideal partner in achieving these goals,” said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.
“Fintech companies move at speed and require commercially viable collaborations with experienced companies that cater to a cost-sensitive market. Through our exciting partnership with Mastercard, we are solving a major pain point and providing a single point of contact while absorbing the complexities of seeking a bank BIN sponsor, third-party processor and other payment solution providers. This combined ecosystem service allows fintech players to focus on their core business, and us to focus on ours – streamlining processes, enabling payments and supporting the program’s growth to earn revenues faster,” said Miranda Perumal, Co-Founder & CEO, Scale.
