Mastercard, One Global™ and i2c partner to launch integrated wallet in Middle East and North Africa, along with issuing capability for fintechsMay 22, 2022 | Riyadh, Saudi Arabia
- The partnership reinforces the region’s position as a leading financial ecosystem.
- One Global™ will offer banks, merchants and fintechs a single window to issue cards and wallet services, powered by i2c’s best-in-class processing capabilities
- Fintechs and neo banks will benefit from increased speed and simplicity, improving the customer experience for secure and convenient digital payments
Riyadh, Saudi Arabia – 22 May 2022 – Mastercard, One Global™ and i2c have announced a partnership to provide tailored financial solutions that will enable the issuance of digital mobile wallets in the region. Through this partnership, banks, fintech, merchants and wallet providers can now offer consumers in the region easy access to cutting edge, digital-first payment solutions and services.
Amnah Ajmal, Executive Vice President, Market Development, Eastern Europe, Middle East and Africa at Mastercard said: “Following the successful adoption of Mastercard Digital First solutions by many leading banks, we have introduced approaches that simplify integration for innovators like fintechs, merchants and neo banks. Making this possible are programs like Mastercard Fintech Express, through which we enable the ecosystem to partner more effectively. This announcement is an excellent example of collaboration to solve for speed, service and scale, while accelerating financial inclusion and innovation in the region.”
By working in partnership with Mastercard and i2c, One Global™ is fixing a process that is often siloed, time consuming and limiting for innovation. Mohammed Al Rashidi, Founder and Executive Chairman of One Global™ said, “This collaboration reduces integration time significantly and makes the engagement process simpler for payment innovators. Today, they must search for a BIN Sponsor, an issuer-processor, a network partner, and much more. We bring this engagement into a single window with three interventions.”
“The One Global™ Og Stack™ enables banking-as-a-service for startups, fintechs, mega merchants and banks. As a principal Mastercard license holder in Bahrain, One Global™ offers its own BIN sponsorship capabilities. Through our partnership with i2c, we take care of various possible issuing processing needs. Together, we are well placed to meet rising consumer demands,” Mohammed continued.
The One Global™ Og Stack™ is the world’s first digital transformation and innovation-driven platform that enables new ideas to reach global markets and brings them together with incubators, investors, venture capitalists and various business clients with a single integrated SDK that connects both startups’ innovations and Enterprises’ omni channels.
Kevin Fox, Global Head of Sales of i2c Inc. , said, “i2c’s tech stack is an agile offering that enables various use cases from commercial to personal, from end-to-end, including digital-first payment methods such as contactless payments. We recognize the intrinsic benefits of partnering with mobile channel technology partners and networks. The market has a specific need for this kind of offering, and the demand is very visible. Fintech companies are facing challenges when it comes to engaging the ecosystem needed to launch their digital banking services, so this alliance will offer a quick, sustainable, and resilient resolution to those challenges.”