Mastercard, the global financial services giant, has announced a strategic partnership with fintech company Scale aimed at accelerating the deployment of fintech solutions across Africa and the Middle East. This collaboration is designed to help telcos, fintech firms, aggregators, and payment service providers launch new products and services by overcoming common technical and commercial challenges.
Amnah Ajmal, Executive Vice President of Market Development for Eastern Europe, the Middle East, and Africa (EEMEA) at Mastercard, highlighted the significance of the partnership. She emphasized that this collaboration brings Mastercard closer to its mission of bridging the digital divide, enhancing financial inclusion, and improving access to financial services across the region.
“At Mastercard, we are committed to working with local ecosystem players to drive the growth of innovative payment solutions across the region,” Ajmal said. “With its deep understanding of the fintech landscape, Scale is the ideal partner to help us achieve these goals.”
Under the partnership, Mastercard and Scale will assist fintech firms in obtaining Bank Identification Number (BIN) sponsorships, providing a streamlined entry into the card market. This sponsorship is seen as a critical step for businesses aiming to establish themselves in the payments industry.
Additionally, the partnership will focus on building sustainable unit economics, as well as designing and commercializing card and other payment programs. This approach is intended to support fintech firms in achieving profitability while expanding their product offerings.
Miranda Perumal, Co-Founder and CEO of Scale, noted that the collaboration addresses a significant industry challenge by offering a single point of contact for fintech firms. “We absorb the complexities of seeking a bank BIN sponsor, third-party processor, and other payment solution providers,” Perumal explained. “This combined ecosystem service allows fintech players to focus on their core business, while we streamline processes, enable payments, and support the program’s growth to accelerate revenue generation.”
The partnership between Mastercard and Scale is expected to drive growth for fintech companies in the region by enabling them to expand their portfolios and increase revenues more efficiently.
