Fintech companies in Africa can now easily embed Mastercard payments into their digital solutions with enza’s platform
- Fintech companies can now embed Mastercard payments directly into their digital solutions using enza’s platform
Mastercard has partnered with enza, a payment solutions company, to provide fintech companies in Africa with access to the Mastercard network. This collaboration allows fintech players to create offerings on the enza platform that incorporate embedded Mastercard payment solutions for both consumers and businesses.
According to a report by the European Investment Bank, the number of fintech companies in Africa has almost tripled since 2020. Many of these companies focus on integrating payment services into broader solutions that address financial accessibility issues, offering alternatives to expensive legacy systems.
With this partnership, fintech companies in Africa now have streamlined access to a wide range of Mastercard services. The goal is to simplify processes and expedite the time to market for emerging companies developing digital financial solutions across the continent.
“At Mastercard, we are committed to supporting the fintech ecosystem by granting access to our reliable global network. Through our collaboration with enza, fintech innovators in Africa will be able to implement embedded payment capabilities more efficiently, ultimately driving financial inclusion and the region’s digital advancement,” said Mete Guney, Executive Vice President of Market Development, EEMEA, Mastercard.
Under the agreement, enza will manage consumer and merchant accounts, handle integration with Mastercard’s network, and ensure top-notch security and system availability. Fintech companies can set up prepaid or postpaid accounts and issue physical or virtual Mastercard cards. For businesses, enza will facilitate Mastercard payment acceptance across in-store, online, and in-app channels.
“enza is dedicated to making digital payments more accessible and affordable throughout Africa, contributing to the development of a more financially inclusive continent that is prepared to compete on a global scale. Our partnership with Mastercard builds on our existing relationship to better serve the fintech community. Together, we will offer innovators a platform capability that eliminates the need to develop this aspect of their proposition, enabling them to enter the market more swiftly and securely,” said Andrew Key, Executive Director of enza.
Established in 2023, enza is headquartered in Abu Dhabi with regional offices in Egypt, South Africa, and Nigeria. The company’s innovative payment infrastructure provides the flexibility and agility required to enhance competitiveness, seize new market opportunities, and generate additional revenue streams by better serving consumers and businesses across Africa.
