Mastercard has revealed it will be exposing Fintech startups in Nigeria and Kenya to the partnership openings it has available through its Engage programme.
According to the global payments processing company, the Engage programme is a global partnership and development programme that aims to build digital payment technology ecosystems.
Speaking on the objectives of the initiative, the Area Business Head at Mastercard West Africa, Omokehinde Adebanjo said, “At Mastercard, we believe partnerships – particularly with regional fintechs with a deep understanding of the local environment – are crucial for ongoing innovation that delivers relevant payment solutions to empower communities. Engage connects financial institutions and merchants with technology partners within a broad innovation ecosystem, helping companies create and launch the most innovative payment solutions for businesses and consumers.”
In recent times, Kenya has experienced a good level of growth in its FinTech sector with different services other than mobile money, especially with its famed money service M-PESA. Nigeria on the other hand in the past few years has attracted a lot of in its Fintech startups.
The Engage programme powered by Mastercard will serve as a bridge between financial institutions, merchants and IoT Manufacturers with the right technology partners that can help them deliver innovative payment solutions.
The other stated benefit for participating FinTech companies is access to Engage-specific training through the “Academy for Engage” education and training programme, as well as regional events that provide up to date information on Mastercard’s value propositions, product strategy, and market priorities.
Adebanjo also said, “Mastercard Engage addresses three key challenges: the need for payment solution providers to constantly evolve their offerings; the growing pressure for financial services organizations to harness digital innovation to offer secure, compliant solutions; and the need for advanced, convenient financial solutions to empower business and consumers.”
According to iafrikan, some of the use cases for the solutions that can emerge from participating are listed as ranging from contactless payments, NFC wallets on wearable devices and secure card-on-file e-commerce, through to mobile POS and advanced commercial payment solutions.
