Mastercard teams up with fintech Scale to enhance digital payment solutions across Africa.

Mastercard has partnered with fintech Scale to advance digital payment solutions across Africa and the Middle East. This collaboration aims to overcome significant technical and commercial obstacles faced by fintech companies, aggregators, payment service providers (PSPs), and telecommunications companies when launching new payment programs. By addressing these barriers, the partnership allows these entities to focus on their core operations and effectively introduce new products and services.

Amnah Ajmal, Executive Vice President of Market Development for EEMEA at Mastercard, commented, “Our goal is to collaborate with local players to promote the growth of innovative payment solutions throughout the region, bridging the digital divide, enhancing financial inclusion, and improving access to financial services. Scale’s deep understanding of the fintech industry makes them an ideal partner for achieving these objectives.”

The partnership will assist fintech companies and other stakeholders in obtaining BIN sponsorships, developing viable business models, and designing and marketing their card and payment programs. They will also assist with product development, profitability assessments, and delivering exceptional customer experiences. Together, they plan to create inclusive value propositions that support long-term growth.

The alliance will also introduce a technological solution that allows tech companies to gain Mastercard issuing capabilities through Scale. Miranda Perumal, Co-Founder and CEO of Scale, explained, “Fintech companies need rapid and cost-effective partnerships. Our collaboration with Mastercard addresses this need by offering a single point of contact that handles the complexities of acquiring a bank BIN sponsor and coordinating with third-party processors. This streamlined approach allows fintech firms to focus on their primary business while we manage the details, speeding up revenue generation and supporting program growth.”

Mastercard will integrate its managed services with its partners’ systems, overseeing the full implementation of card programs. Following the launch, Scale will help partners expand their portfolios, increase revenue, and achieve profitability by analyzing consumer behavior, market trends, and competition.

This partnership offers multiple benefits across the ecosystem. Financial institutions will find it easier to collaborate within the card value chain. Merchants will gain easy access to digital financial products, aiding in business growth. Governments will witness a reduction in cash transactions, increased economic participation, and higher GDP growth. Consumers will enjoy a wider range of financial products and services tailored to their needs.