August 15, 2024 – Mastercard has announced a strategic partnership with Scale, a leading issuer orchestration partner, aimed at accelerating market deployment for fintech companies across Africa and the Middle East. This collaboration is expected to significantly reduce technical and commercial barriers that fintech firms, aggregators, enablers, payment service providers (PSPs), and telcos face when launching payment programs, enabling these companies to focus on their core operations and efficiently introduce new products and services.
Industry experts highlight that this partnership will be instrumental in supporting fintech firms and other ecosystem players in securing BIN sponsorships, building sustainable unit economics, and designing and commercializing their card and payment programs. Mastercard and Scale will also assist in productization, profitability modeling, and delivering exceptional customer experiences. By working closely with their partners, they aim to co-create inclusive value propositions that are set for long-term growth.
Amnah Ajmal, Executive Vice President of Market Development for EEMEA at Mastercard, expressed the company’s commitment to fostering the growth of innovative payment solutions in the region. “At Mastercard, we are dedicated to working with local ecosystem players to bridge the digital gap, enhance financial inclusion, and improve access to financial services. Scale, with its deep understanding of the fintech landscape, is the ideal partner to help us achieve these goals,” Ajmal stated.
The partnership will see Mastercard leveraging its managed services to integrate seamlessly into partners’ systems, overseeing the end-to-end implementation of card programs. Following the launch phase, Scale will support partners in expanding their portfolios, driving revenues, and achieving profitability by offering insights into consumer behavior, market dynamics, and competitive landscapes.
Miranda Perumal, Co-Founder & CEO of Scale, emphasized the importance of this collaboration in addressing key challenges for fintech companies. “Fintech firms operate at a fast pace and require commercially viable partnerships with experienced companies that understand the needs of cost-sensitive markets. Our partnership with Mastercard addresses these pain points, providing a single point of contact while simplifying the complexities of securing bank BIN sponsorships, third-party processors, and other payment solution providers. This combined ecosystem service allows fintech players to focus on their core business, while we streamline processes, enable payments, and support program growth to drive faster revenue generation,” said Perumal.
Looking ahead, the partnership is expected to evolve into a comprehensive technology proposition, enabling tech companies across the region to acquire Mastercard issuing capabilities through Scale.
This strategic collaboration promises to deliver significant advantages to not only fintech firms but also a wide range of other players across the financial ecosystem, fostering innovation and driving growth throughout Africa and the Middle East.
