Mastercard has launched Fintech Express in Asia Pacific, an initiative aimed at providing a customized set of digital-first products and services to support fintech players in the region, according to Tech in Asia.
UK-based fintech-as-a-service startup Rapyd is the first partner to join the program, obtaining an issuing license and integrating with the Mastercard network, according to a statement.
Rapyd is a mobile-first financial network that provides customized payment solutions to ecommerce firms, gig economy platforms, and tech providers. It recently raised USD 100 million in a series C round to develop its cloud-based platform and accelerate its growth in Asia Pacific, among others.
As a result of the program, Mastercard and Rapyd will be working on issuing cards for the latter’s corporate clients in the region.
Rapyd also plans to use its issuing license to extend its portfolio to clients in Singapore and beyond. The program is now accepting applications from interested parties, the company said.
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