Mastercard has announced a strategic partnership with enza to enhance connectivity and financial inclusion across the continent. This collaboration aims to integrate African fintech companies into the Mastercard network, providing them with access to a comprehensive suite of secure and trusted payment solutions that can be quickly deployed and scaled.
Africa’s fintech scene has seen remarkable growth, with the number of fintech firms nearly tripling since 2020, according to a recent report by the European Investment Bank. Many of these innovative companies focus on embedding payment services into broader financial solutions to broaden access to affordable financial services, offering alternatives to often costly legacy systems. However, navigating the complexities of payment integration and compliance remains a challenge for many emerging startups.
This is where the partnership between Mastercard and enza comes into play. enza will facilitate the hosting of consumer and merchant accounts, manage integration with Mastercard’s global network, and ensure high standards of security and system availability. The goal is to reduce the time and complexity involved in bringing new digital financial solutions to market.
“With this collaboration, fintech innovators in Africa will be able to access Mastercard’s trusted global network more efficiently,” said Mete Guney, Executive Vice President of Market Development at Mastercard EEMEA. “We are focused on powering the fintech ecosystem, helping regional startups deploy embedded payment capabilities faster, which in turn will accelerate financial inclusion and support the continent’s broader digital transformation.”
The partnership enables fintech companies to configure prepaid or postpaid accounts and issue physical or virtual Mastercard cards for their customers. These solutions can be accepted across multiple channels, including in-store, online, and in-app, making payments more seamless and accessible. Additionally, the collaboration simplifies compliance and security, allowing entrepreneurs to focus on innovation rather than infrastructure.
Andrew Key, Executive Director of enza, highlighted the benefits of the partnership: “Our collaboration with Mastercard leverages our existing relationship to serve the fintech community more effectively. Together, we’re giving innovators a platform that eliminates the need to build this infrastructure from scratch, allowing them to go-to-market faster with greater security.”
This partnership underscores a shared vision of fostering a vibrant, inclusive digital economy across Africa. By providing local fintech firms with easy access to Mastercard’s global payment services, the collaboration is helping to bridge the financial access gap and create new opportunities for millions of Africans to participate in the digital economy.
As fintech continues to evolve rapidly across Africa, this alliance marks a significant step towards a future where innovative, embedded financial solutions are accessible to all, fueling growth, inclusion, and economic empowerment on the continent.
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