Mastercard announced that this partnership will transform the payment landscape in Senegal, Côte d'Ivoire, and Benin.
The Flash wallet facilitates simplified transactions and offers both virtual and physical prepaid cards for payments. It offers functionalities like invoice splitting among multiple users, expense management, and budgeting support. Mastercard notes that the app is designed to work better with other regional wallets, delivering simplified and more efficient transactions. The company further explains that the solution aims to assist merchants by upgrading payment acceptance through advanced technologies such as QR Pay, Pay by Link, and contactless payments. Additionally, the company provides businesses with a specialised platform called 'Flash in Business', delivering a complete solution for corporate financial needs.
Officials from Mastercard declared that this partnership with NAT uses its worldwide network alongside its local knowledge to upgrade individuals' financial well-being and stimulate growth for local businesses as well as the overall economy.
In November 2024, Mastercard revealed its partnership with Fundbot aimed at speeding up payments between buyers and suppliers in various markets. As part of this collaboration, both companies were set to co-develop a tech-driven platform designed to upgrade the experience for customers and businesses in the UAE and Saudi Arabia. Simultaneously, this partnership aimed to boost business-to-business (B2B) payment processes across all sectors, as the new platform connects buyers and suppliers securely and efficiently.
Mastercard and Fundbot underlined their commitment to addressing the needs, preferences, and demands of clients and users in a constantly changing market. They also intend to prioritise the importance of adhering to regulatory requirements and industry laws.
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