Mastercard Partners with enza To Enable Fintech Innovation Across Africa

Mastercard has taken a big step to enable fintech innovation across Africa by partnering with payment solutions company enza. Mastercard partners with enza to enable fintech innovation, making digital payments easier and more accessible for both businesses and consumers all over the continent.

In recent years, the number of fintech companies in Africa has grown rapidly, almost tripling since 2020, according to a report by the European Investment Bank. Many of these companies are focused on making it easier for people to access financial services, especially in places where traditional banking is expensive or hard to reach. By working together, Mastercard and enza want to help these fintech companies grow faster and serve more people.

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With this partnership, fintech companies can now connect directly to the Mastercard network using enza’s platform. This means they can offer services like digital payments, prepaid or postpaid accounts, and even issue physical or virtual Mastercard cards to their customers. For businesses, it becomes much easier to accept Mastercard payments in stores, online, or through mobile apps. All of this helps enable fintech innovation across Africa by making it simpler for new companies to launch and expand their services.

Mete Guney, an executive at Mastercard, explained that the company is focused on helping the fintech ecosystem by giving innovators access to Mastercard’s trusted global network. By teaming up with enza, Mastercard partners with enza to enable fintech innovation across the continent, allowing startups and established companies alike to offer secure, reliable payment solutions more quickly and efficiently.

enza, founded in 2023 and headquartered in Abu Dhabi with offices in Egypt, South Africa, and Nigeria, is on a mission to make digital payments more affordable and accessible throughout Africa. Andrew Key, Executive Director at enza, said that the partnership with Mastercard means fintech innovators no longer need to build complex payment systems from scratch. Instead, they can use enza’s platform to get to market faster and with greater security.

This collaboration is also about financial inclusion, helping more people and businesses join the digital economy. Mastercard has a long-term goal to support micro, small, and medium-sized enterprises (MSMEs), which make up a huge part of Africa’s economy. By enabling fintech innovation across Africa, Mastercard and enza are helping these businesses grow, create jobs, and compete globally.

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The impact of this partnership is expected to be far-reaching. As more fintech companies gain access to Mastercard’s full suite of services, they can develop new solutions that make life easier for millions of Africans. Whether it’s sending money, paying for goods and services, or managing finances on a mobile phone, the collaboration between Mastercard and enza is paving the way for a more connected, inclusive, and innovative digital future across Africa.

Mastercard partners with enza to enable fintech innovation across Africa, making it easier for new and existing fintech companies to offer powerful digital payment solutions. This move is set to speed up financial inclusion, support local businesses, and help millions of people benefit from the digital economy.

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