[Mastercard and Scale partners to accelerate fintech deployment in Africa]
Mastercard has partnered with fintech startup Scale to accelerate the growth of fintech companies in Africa and the Middle East. This collaboration aims to help telecommunications companies, financial technology companies, payment service providers, etc. overcome technical and commercial barriers and quickly launch new products and services.
Amnah Ajmal, Executive Vice President of Market Development at Mastercard, said the partnership will drive the development of innovative payment solutions in the region, bridge the digital divide, increase financial inclusion and improve access to financial services. She emphasized that Scale is the ideal partner to achieve these goals.
The partnership includes helping fintech companies secure sponsorship of Bank Identification Numbers (BINs), a streamlined way to enter the card market. In addition, Mastercard and its partners will help build sustainable unit economics models and commercialize cards and other payment programs.
Miranda Perumal, co-founder and CEO of Scale, said that this cooperation solves the complexity of finding bank BIN sponsors and payment solution providers, allowing financial technology companies to focus on their core business, while Scale is responsible for streamlining processes, enabling Pay and support program growth.
According to the report, Scale is expected to help partners profitably grow their portfolios and revenues.
