Mastercard has partnered with Scale, an issuer orchestration partner, to run the deployment of fintech services across Africa and the Middle East. The collaboration is set to break down the technical and commercial barriers that have historically prevented fintech companies, aggregators, enablers, payment service providers (PSPs), and telcos from launching payment programs in these regions.
This partnership underscores Mastercard’s commitment to driving innovative payment solutions and bridging the digital divide. By leveraging Scale’s expertise in the fintech sector, Mastercard aims to enhance financial inclusion and expand access to financial services throughout the region.
Amnah Ajmal, Executive Vice President of Market Development for EEMEA at Mastercard, highlighted the company’s focus on collaborating with local ecosystem players, noting that the partnership with Scale aligns with Mastercard’s broader goal of promoting growth in innovative payment solutions across Africa and the Middle East.
The collaboration will provide comprehensive support to fintech companies and other participants in the ecosystem, covering key aspects such as securing BIN sponsorships, developing sustainable unit economics, and designing and commercializing card and payment programs. The partnership will also emphasize delivering exceptional customer experiences and creating inclusive value propositions designed for long-term growth.
As the partnership evolves, it will transform into a technology proposition, enabling any tech company to acquire Mastercard issuing capabilities through Scale. Miranda Perumal, Co-Founder and CEO of Scale emphasized that the partnership addresses a significant challenge for fintech companies by offering a single point of contact and simplifying securing bank BIN sponsors and third-party processors.
Mastercard will integrate its managed services into partners’ systems and oversee the entire card program implementation process. Post-launch, Scale will support partners in growing their portfolios, driving revenues, and achieving profitability through insights into consumer behavior, market dynamics, and competitive landscapes.
The benefits of this partnership extend beyond fintech companies to include a broad range of ecosystem players. Financial institutions will find it easier to collaborate with stakeholders in the card value chain, while merchants will gain improved access to digital financial products and services. Governments are also expected to benefit, as introducing new financial offerings may reduce cash-based transactions and contribute to economic development.
This partnership marks a significant advancement in the fintech landscape of Africa and the Middle East. Mastercard and Scale are paving the way for increased innovation, improved financial inclusion, and accelerated digital transformation in these regions by addressing key challenges and providing comprehensive support. As the fintech sector continues to evolve, such collaborations are crucial in shaping the future of financial services in these markets.
