Mastercard has joined forces with Abu Dhabi-based payment solutions company enza to support the rapid expansion of fintech companies across Africa. This collaboration enables fintech innovators to access Mastercard’s global network through enza’s platform, allowing seamless integration of embedded payment solutions tailored for both consumers and businesses. The partnership aims to simplify payment infrastructure and accelerate fintech product launches on the continent.
Fintech Growth in Africa
According to a recent European Investment Bank report, the number of fintech companies in Africa has nearly tripled since 2020, driven by growing demand for innovative financial solutions. Many of these startups focus on embedding payment services into broader offerings to increase financial inclusion and reduce the high costs associated with legacy systems. This surge underscores the importance of partnerships like Mastercard and enza to support scalable, efficient fintech ecosystems.
How the Collaboration Works
Under the agreement, enza will manage consumer and merchant accounts and handle integration with Mastercard’s network while ensuring robust security and system availability. Fintech companies will be able to configure pre-paid or post-paid accounts and issue both physical and virtual Mastercard cards, offering flexibility to meet various market needs. Additionally, businesses can accept Mastercard payments across in-store, online, and in-app channels, making commerce more accessible and seamless.
Benefits for Fintech Innovators
The collaboration is designed to reduce technical complexity and shorten time to market, empowering fintech startups to focus on innovation rather than building payment infrastructure from scratch. By leveraging enza’s platform combined with Mastercard’s trusted global network, fintech firms can accelerate the rollout of embedded payment capabilities that drive financial inclusion and digital transformation throughout Africa. This partnership also offers enhanced security and compliance support, critical for building trust in digital financial services.
Statements from Leadership
Mete Guney, Executive Vice President of Market Development, EEMEA at Mastercard, emphasized the company’s commitment to empowering the fintech ecosystem. He stated that the partnership with enza allows fintech innovators to deploy embedded payments more efficiently, fostering financial inclusion and advancing digital transformation in the region. Meanwhile, Andrew Key, Executive Director at enza, highlighted their mission to make digital payments more accessible and affordable, noting that the collaboration will enable fintech companies to reach markets faster with secure, scalable solutions.
The Mastercard-enza partnership marks a significant step in advancing Africa’s fintech landscape by providing essential payment capabilities to a growing number of startups. This collaboration addresses key challenges such as cost, complexity, and speed to market, while supporting the continent’s broader goals of financial inclusion and digital economy growth. As fintech continues to transform Africa’s financial services, partnerships like this will be crucial in enabling sustainable, scalable innovation.