Mastercard has partnered with Scale, an issuer orchestration partner, to accelerate market deployment for fintech companies across Africa and the Middle East. According to Industry sources, this partnership will boost core technicality and commercial hurdles to entry that fintech firms, 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.
Industry sources added that Mastercard and Scale will aid the fintech firms 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.
Industry sources further added that Mastercard will leverage its managed services into the partners’ systems and operate their card program implementation from end to end. In the post-launch period, Scale will aid the partners in growing their portfolios, driving revenues, digital payment solutions (DPS) and achieving profitability by understanding consumer behaviors, market dynamics, and competitors. This partnership will in turn bring a variety of advantages not only to fintech firms but also to a wide range of other players across the ecosystem.
“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, of Scale.
The collaboration will evolve into a technology proposition, enabling any tech company to acquire the Mastercard issuing capability through Scale.
