Mastercard partners with areeba

According to areeba’s officials, the partnership with Mastercard intends to offer additional market segments and demographics access to Mastercard products, services, and benefits, including propositions with subscriptions and a pay-as-you-grow pricing scheme that can be launched rapidly. The company highlighted its commitment to contributing to the advancement of payment solutions in the countries in which it operates. Representatives from Mastercard stated that the company prioritises payment modernisation for providing market-ready services and platforms that support the delivery of enhanced offerings to consumers. The company aims to simplify dependencies by providing digital solutions that can be implemented efficiently and following local regulations and compliance mandates.

By joining forces, Mastercard and areeba aim to allow financial institutions to introduce new products to the market conveniently, without concerns regarding technology and business operations readiness. Furthermore, fintech companies can receive accelerated time to market by eliminating the difficulties of BIN sponsorship and having access to Mastercard digital issuing assets through areeba. Mastercard and areeba will provide consumers with access to bundled digital financial products, such as youth and family banking. The collaboration also supports governments by assisting with on-soil mandates and assisting the community by introducing additional products aimed at improving financial wellness.

Since the beginning of November 2023, Mastercard entered multiple partnerships to advance its development plan, including one with Taulia. Through this collaboration, the two companies launched the Taulia Virtual Card, a B2B payment solution for additional capital management benefits, including the ability to increase cash flow and minimise payment uncertainty. Moreover, enterprises and corporates can simplify payment-related tasks following Taulia Virtual Cards’ integration across SAP ERP solutions, such as the SAP S/4HANA and other enterprise resource planning platforms.

During the same period, Feedzai partnered with Mastercard to expand crypto fraud protection for consumers and clients globally. Feedzai was set to leverage Mastercard’s Ciphertrace crypto intelligence solutions to minimise the risk of account-to-account (A2A) fraud, with the tool being integrated into the company’s RiskOps platform. This was intended to enable banks, customers, and businesses to be notified when a transaction appears fraudulent in a faster and more efficient manner.

Furthermore, Mastercard Singapore collaborated with FOMO Pay to launch Mastercard QR within SGQR, the unified national QR for Singapore, enabling customers to scan and pay using their Mastercard. By working together, FOMO Pay allowed SGQR merchants to accept Mastercard QR payments, with cardholders being able to use Mastercard credit and debit cards for scan-and-pay at SGQR codes. 

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