Mastercard has announced a collaboration with fintech Zain Cash with the goal of advancing the adoption of digital payments in Jordan. The partnership is also anticipated to enable the fintech to expand its card portfolio in the same market. As part of this joint venture, Zain Cash will reportedly implement value-added services and platforms in an effort to provide new payment solutions in Jordan.
As per the official press release, the collaboration encompasses Zain Cash’s Mastercard prepaid, credit card portfolio, as well as SMEs solutions. Mastercard will also support Zain Cash in setting up an Innovation Hub in Jordan that will serve as a space where the two companies co-create payment solutions and services.
According to an official from Zain Cash cited in the official press release, the fintech is committed to extending access to advanced payment solutions for customers and businesses in Jordan. The partnership with Mastercard is anticipated to help the fintech enhance its offerings and expand its market presence in the digital-first, multi-currency, SME, and ecommerce spaces.
Zain Cash offers a platform for individuals and businesses to conduct financial transactions and process monthly payments. The fintech’s suite of solutions encompasses money transfers, digital payments, bill payments, and mobile wallet top-ups. Zain Cash is reportedly Mastercard’s top cross-border issuer in Jordan. In 2023, the fintech introduced Mastercard World, Platinum, and Standard, and became the first telco in the region to issue credit cards.
A Mastercard representative also cited in the press release highlighted the company’s focus on leveraging advanced technology to build a seamless and secure payment ecosystem, as well as boost financial inclusion and have a scalable positive impact on the region’s digital economy. They further emphasised that the joint venture with Zain Cash aligns with the company’s goal of driving digital payment acceptance. As per the official statement, the partnership also supports the objectives of Jordan’s National Digital Transformation Strategy.
