Mastercard to Introduce Nigerian, Kenyan Fintechs to Global Opportunities

• Mastercard to Introduce Nigerian, Kenyan Fintechs to Global Opportunities

Global payment company Mastercard has perfected plans to introduce Nigerian and Kenyan Financial Technology (Fintech) startups to global partnership opportunities through Mastercard Engage programme.

The programme, which started in 2017, will connect financial institutions, merchants and Internet of Things manufacturers with the right technology partners that could help them deliver innovative payment solutions to businesses and consumers.

In a statement released by Mastercard Engage on Monday, the programme described the move as a strategic global partnership and development that built digital payment technology, connect local developers to global partners and ensure speedy delivery of their products to the market.

Since its launch, the programme has tripled the number of fintechs on the platform, some of them have the capability ranging from deploying digital wallets, enabling tokenisation, facilitating instant payouts and launching mobile point of sale solutions, among others.

Omokehinde Adebanjo, the Area Business Head, Mastercard West Africa, who spoke on the programme advantage to local fintech developers 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.”

Mastercard continues to make the right adjustments to improve its overall offerings, on Monday it announced 40 percent reduction in transaction fees charged on foreign-issued cards use in the Euro-area.

In April, it announced a partnership deal with Jumia, Africa’s Amazon.