This partnership is designed to equip fintechs with the infrastructure and market readiness required to effectively issue payment cards, addressing the pressing challenges faced by many in the sector.
Mastercard emphasizes that numerous fintech firms in South Africa encounter significant obstacles in scaling their payment solutions. By working together, Mastercard and Paymentology aim to empower these companies to introduce card services tailored to niche markets and to better serve underserved communities, particularly those without traditional banking access.
“We are committed to equipping fintech companies with market-relevant solutions that enable them to scale effectively. Together, we are simplifying card issuance and creating new pathways for financial access for the underserved populations in South Africa,” said Gabriel Swanepoel, Country Manager at Mastercard Southern Africa.
“This agreement solidifies both our companies’ commitment to advancing financial inclusion in South Africa,” said Drisha Kirkman, Head of Programme Management and Sustainability at Paymentology.
Through this partnership, Mastercard and Paymentology are poised to transform the way fintechs operate, opening doors for innovative payment solutions that cater to the needs of diverse customer segments across the nation.
