Mastercard and Payment24 extend their partnership across Eastern Europe, the Middle East, and Africa (EEMEA) to aid bolster security and powering innovation within the fleet and fuel payment industry across the region.
Industry sources added that this partnership not only powers innovation in the fleet and fuel payments sector but also focuses on speeding up the digital transition to the secure EMV standard and aiding the fleet operators to curb the risk of fraud associated with magnetic strip fleet cards.
Industry sources further added that this expanded collaboration extends the geographical reach of a proven solution and delivers modern fleet and fuel payment solutions to banks and fleet card issuers throughout the region. While drivers benefit from a quick, secure, and seamless way to make payments, fleet operators can now monitor driver spending in real-time, set expense limits, and minimize the requirement for cash.
Clyde Rosanowski, Senior Vice President of Commercial Solutions, EEMEA at Mastercard stated “By combining Mastercard’s leading payment technology with Payment24’s innovative and proven fuel payments platform, we deliver a solution for the region that enhances security and adds significant value and convenience for customers.”
Shadab Rahil, Joint CEO of Payment24 stated “We are exceptionally proud of how our partnership with Mastercard has developed. The expansion of this alliance to EEMEA highlights the urgent need to get ahead of fraud in the fleet and fuel payments industry. We believe that our combined offering will help customers in the banking industry to better mitigate risks associated with legacy technologies while enhancing transparency and flexibility.”
Nolan Daniel, Joint CEO at Payment24 stated “Our deep understanding and tailor-made fuel and fleet technologies go beyond providing secure EMV cards. We deliver mobile payments, windshield tags for identification, and real-time tracking of vehicles and fuel via telematics, all integrated within a dedicated vehicle and fleet management platform. This allows customers to monitor fuel expenses and consumption and actively detect and prevent potential fraud.”
Industry sources further added that via this partnership, clients will be able to take advantage of an end-to-end Fleet Management solution to aid them in rapidly deploying and scaling their own secure fleet and fuel payment offerings. The offering is designed to deliver a suite of EMV-based payment products and extends to a host of modern payment mechanisms, including tokenized tags, e-wallets, and vouchers that are all native to the Payment24 platform.
