• Partnership will enable quicker roll-out of payment programs for fintech companies, banks, telcos, retailers, payment service providers and aggregators
  • The collaboration will enable companies to focus on their core business, expediting the launch of new products and services, and achieving profitability at speed

Dubai, UAE: Mastercard has partnered with Scale, an issuer orchestration partner, to accelerate market deployment for fintech companies across Africa and the Middle East.

The collaboration will alleviate key technical and commercial barriers to entry that fintech companies, aggregators, enablers, payment service providers (PSPs) and telcos face when launching payment programs - enabling them to focus on their core business and launch new products and services efficiently. 

“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.

Mastercard and Scale will support fintech companies and other ecosystem players in securing BIN sponsorships, building sustainable unit economics, designing and commercializing their card and other payment programs, productization, assessing profitability models for their programs and delivering world-class customer experience. Together with their partners, they will co-create inclusive value propositions that are poised for long-term growth.

The collaboration will evolve into a technology proposition, enabling any tech company to acquire the Mastercard issuing capability through Scale.

“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.

Mastercard will plug in its managed services into the partners’ systems and run their card program implementation from end to end. In the post-launch period, Scale will assist the partners in growing their portfolios, driving revenues and achieving profitability by understanding consumer behaviors, market dynamics and competitors.

The partnership will bring a variety of advantages not only to fintech companies but also to a wide range of other players across the ecosystem.

For financial institutions, it will facilitate collaborations with stakeholders in the card value chain. Meanwhile, merchants will enjoy easy access to digital financial products and services that will allow them to grow their businesses. For governments, the new financial offerings available in the market will contribute to reducing cash-based transactions, enabling more people and businesses to participate in economic development and boosting GDP growth. Finally, consumers will have more choice of financial products and services that meet their needs.

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About Mastercard

(NYSE: MA)  www.mastercard.com 

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

Mastercard Communications Contact: Amelia.Naidoo@mastercard.com

About Scale

Founded by South African entrepreneur and industry expert Miranda Perumal, Scale is charting a course to reshape the continent's financial landscape. The startup supports Fintechs across their segments and stages by enabling their Go-To-Market and Speed-to-Revenue strategies through the technology and partnership suite. The launch of Scale has already generated considerable traction within the fintech community, with several prominent clients, partners and investors expressing excitement in the venture.

For more information about Scale and its mission to drive change for fintech in Africa, please visit www.enabling-scale.com.