Through this partnership, fintech companies are set to be able to develop propositions on the enza platform that provide consumers and businesses with embedded Mastercard payment solutions capabilities. The initiative comes amid a substantial increase in the number of fintech companies operating across Africa, with many focusing their efforts on embedding payment services into broader solutions that support financial access, facilitating alternatives to legacy systems that often present higher costs.
With this collaboration, fintech firms in Africa can access the complete range of Mastercard services. As part of their alliance, Mastercard and enza aim to minimise complexity and expedite time to market for emerging players developing financial solutions throughout the region. Additionally, the agreement will enable enza to host consumer and merchant accounts, manage integration with Mastercard’s network, and ensure security and system availability. Fintechs will be able to configure pre-paid or post-paid accounts, as well as issue physical or virtual Mastercard cards. For businesses, enza will facilitate the acceptance of Mastercard payments across in-store, online, and in-app channels.
Furthermore, commenting on the news, representatives from Mastercard underscored their company’s commitment to advancing the fintech ecosystem by facilitating access to its global network. By collaborating with enza, Mastercard seeks to enable fintech companies in Africa to deploy embedded payment capabilities more efficiently, thus fostering financial inclusion and supporting the region’s digital transformation. Concurrently, enza emphasised that the partnership with Mastercard leverages their existing relationships to better serve the needs of the fintech community.
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