Mastercard and egabi collaborate to expand access to digital lending solutions across Eastern Europe, Middle East, AfricaApril 27, 2023 | Dubai, UAE
- Partnership will expand embedded finance solutions for organizations to enter the digital lending space
- Solutions to serve both consumers looking for Buy Now Pay Later payment plans and SMEs looking for microfinance solutions
Dubai, UAE, 27 April 2023. Mastercard and IT banking solutions company, egabi FSI, have partnered to expand financial institutions and non-traditional partners’ access to new embedded finance and digital lending products across Eastern Europe, Middle East and Africa.
Embedded finance enables consumers access to financial services even if they are on non-financial platforms or tools.
Mastercard will activate egabi’s digital-lending capabilities and assets to provide an end-to-end lending proposition to financial institutions and fintech companies. This is further enhanced by offering Mastercard’s Digital First products to issuers willing to enter the digital lending space.
Mastercard’s technology along with egabi’s digital lending platforms makes it easier for organizations to enter the digital lending space, serving both consumers looking for BNPL affordable payment plans and SMEs looking for microfinance solutions.
“Our collaboration with egabi is another great example of Mastercard’s role as a trusted technology partner that enables customers to tap into the potential of digital lending products and expand access to more markets. Through our multi-rail capabilities, we can solve pain points for multiple customer segments, and enable partners to quickly go to market with the ability to effectively scale,” said Gaurang Shah, Mastercard’s Executive Vice President, Product and Engineering, Eastern Europe, Middle East and Africa.
With Mastercard’s capabilities, organizations can obtain market readiness within weeks, while benefiting from quick launch activations, engagement efforts, and flexibility as part of a less complex subscription-based approach that facilitates cost-efficient pricing.
“We are pleased to partner with Mastercard to digitize the lending space and introduce new innovative products that serve growing segments such as BNPL, microfinance and SME. The partnership with Mastercard reflects the trust of global financial institutions in egabi FSI as a fintech technology enabler and the quality of egabi’s products. We believe that this partnership will open doors for wider market coverage and together with Mastercard will be able to redefine the digital lending industry in the region,” said Ahmed Sameh, CEO of egabi FSI.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
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