By 
One month after its partnership with the National Bank of Egypt focused on the digitalization of the local economy, Mastercard signs a new partnership with egabi. This initiative will allow consumers to access digital loans faster.
Egyptian software development company egabi FSI and Mastercard have signed a partnership to expand access to digital lending solutions across Africa, Eastern Europe and the Middle East. The information was made public by Mastercard on Thursday, April 27.
This new collaboration between egabi FSI and Mastercard will digitize the lending space and introduce new innovative products such as buy now pay later (BNPL), microfinance plans for SMEs…
According to Ahmed Sameh, CEO of egabi FSI, the partnership with Mastercard “reflects the confidence of global financial institutions in egabi FSI as a fintech technology enabler and the quality of egabi’s products. This partnership will pave the way for greater market coverage and together with Mastercard, we will be able to redefine the digital lending industry in the region.”
As part of the partnership, Mastercard will activate ecabii’s digital lending capabilities and assets to provide an end-to-end lending proposition to financial institutions and fintech companies. This is done by offering Mastercard’s Digital First products to issuers wishing to enter the digital lending space.
This strategic partnership with egabi FSI follows partnerships initiated by Mastercard in Egypt with the aim of connecting and powering an inclusive digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. In March, Mastercard had already announced a new partnership with the National Bank of Egypt (NBE) to digitize the Egyptian economy to the next level. Five months earlier, in October, the company launched a partnership with Egyptian banks to strengthen fintech in the country.
Comments