Through this strategic alliance, fintech companies can develop offerings on the enza platform that incorporate Mastercard’s payment solution capabilities. This collaboration follows an increase in the number of fintech businesses operating across the continent, many of which aim to integrate payment services into broader financial solutions.
Mastercard Services for African Fintechs
Under this partnership, Mastercard offers a full range of services accessible to fintech firms in Africa. The collaboration between Mastercard and enza is designed to simplify processes and speed up the time-to-market for emerging players developing financial solutions across the region. Additionally, enza will manage consumer and merchant accounts, handle integrations with Mastercard’s network, and ensure security and system reliability.
Fintechs can configure both pre-paid and post-paid accounts and issue either physical or digital Mastercard cards. For businesses, enza facilitates acceptance of Mastercard payments via in-store, online, and app-based channels.
Mastercard’s Commitment to Fintech Ecosystem
Commenting on the partnership, representatives from Mastercard highlighted their company’s dedication to fostering a robust fintech ecosystem by providing access to its global network. The collaboration with enza aims to make it easier for African fintech companies to deploy embedded payment capabilities, thus promoting financial inclusion and driving digital transformation in the region.
enza’s Additional Partnerships
Besides this partnership with Mastercard, enza also teamed up with TerraPay in July 2024. Their collaboration aimed to address challenges hindering business growth in Africa and promote financial inclusion by integrating payment acceptance infrastructures with over 2.1 billion mobile wallets globally.
