Mastercard has announced a collaboration with enza, a Abu Dhabi-based payment solutions company, aimed at supporting the expansion of fintech companies across Africa.
Through this partnership, fintech firms will gain access to Mastercard’s global network via the enza platform, enabling them to integrate embedded payment capabilities into services for both consumers and businesses.
A recent report from the European Investment Bank highlights the rapid growth of the fintech sector in Africa, noting that the number of companies has nearly tripled since 2020.
Many of these businesses focus on incorporating payment services into broader financial solutions, offering alternatives to traditional systems that often involve high operational costs.
The partnership between Mastercard and enza is intended to simplify access to Mastercard’s suite of services, reduce technical complexity, and shorten the time it takes for new fintech offerings to reach the market.
“At Mastercard, we are focused on powering the fintech ecosystem by enabling access to our trusted global network. Through our work with enza, fintech innovators in Africa will be able to deploy embedded payment capabilities more efficiently – helping accelerate financial inclusion and the region’s digital transformation,”
said Mete Guney, Executive Vice President, Market Development, EEMEA, Mastercard.
As part of the agreement, enza will be responsible for hosting both consumer and merchant accounts, managing integration with the Mastercard network, and maintaining system security and reliability.
The platform will allow fintech companies to configure pre paid or post paid accounts and issue either physical or virtual Mastercard cards.
For businesses, enza will support Mastercard payment acceptance across physical stores, online platforms and mobile applications.
“Our collaboration with Mastercard leverages our existing relationship to more effectively serve the fintech community. Together, we will provide innovators with a platform capability that means they do not need to build this aspect of their proposition and can get to market with greater speed and security,”
said Andrew Key, Executive Director, enza.
Founded in 2023, enza has regional offices in Egypt, South Africa and Nigeria.
Its infrastructure aims to support financial service providers with flexible tools to enter new markets, improve customer offerings and expand revenue opportunities.
Featured image credit: Mastercard
