Mastercard and EziPay join to provide fintech with more digital commerce solutions for millions in the Middle East and Africa
Adding EziPay to Mastercard’s list of fintech partners strengthens the company’s position in the market. Customers in the MEA region will be able to quickly, safely, and anonymously transact online using this service. The Mastercard digital payment service may be connected to EziPay electronic wallet, making it available for usage by both customers and firms. Customers are welcome to take advantage of this convenient payment platform to carry out online international business transactions. People have the opportunity to interact with businesses and brands located in any part of the world that accept Mastercard as a form of payment.
Connecting to the internet in nations and regions situated in Africa and the Middle East is often accomplished via the use of mobile platforms. This is by far the most common method. The Global System for Mobile Communications (GSMA) has developed some forecasts about the number of people who would connect to internet services through their mobile phones in the year 2025. These projections indicate that there will be around 0.3 billion of these users.
Paying for goods and services through the internet or on smartphones has never been easier for EziPay users who have connected existing Mastercard virtual cards to respective EziPay accounts thanks to this alliance. Customers may use the service even if they don’t have a savings account. Additionally, small corporates may use the digital payment option to acquire goods from overseas vendors.
As a result of our collaboration with EziPay, we will be able to expand access to banking services by establishing a globally linked payment processing environment. When millions around the world can use electronic transaction options, we’re thrilled that we can assist in making strides with the internet revolution. Amnah Ajmal remarked, “Using our platform and relationships with financial technology partnerships, we’re extending the whole financial industry in MENA.”Currently, he serves as Mastercard’s EVP, Market Development in Eastern Europe including the MENA.
A considerable contribution has been made to the financial markets by financial technology (also known as “fintech”), says Amit Gaur, Chief operating officer of EziPay also an expert in the Middle East and North Africa zone. “Although we support digital banking inclusiveness, this one will enhance frictionless transactions for e-commerce and link billions to the worldwide digital marketplace, strengthening our current societal working class,” said Gaur of Mastercard and its alliance.
The global effort that Mastercard made to expand people’s access to banking services is being advanced in a large part by the company’s participation in collaborative efforts similar to the ones that are there with EziPay. These types of efforts are similar to the ones that are there with EziPay because they are similar to the ones that are there with Mastercard. These types of efforts are comparable to those that EziPay is now putting out in its business. Before the year 2025, it is projected that one billion customers would benefit from fintech as a direct result of this link. In addition, fifty million micro-enterprises and twenty-five million female entrepreneurs will also benefit from this relationship.