By 
Mastercard is expanding its collaboration with Paymentology, a global leader in next-generation issuer processing, to enhance card issuance capabilities for fintech companies in South Africa. This strategic initiative is designed to provide fintech startups with the infrastructure, expertise, and market acceleration tools needed to scale their operations efficiently, fostering financial inclusion and digital transformation across the country.
South Africa’s fintech ecosystem is experiencing rapid growth, contributing 40% of Africa’s total fintech revenue (Fintech in Africa Report 2024). However, many emerging fintechs face significant challenges in launching and managing card programs due to regulatory complexities and infrastructure limitations. Mastercard and Paymentology are addressing these barriers by providing seamless access to the essential technology required to develop innovative card solutions for both niche markets and underserved communities.
Enabling Scalable and Compliant Card Solutions
By integrating Mastercard’s global payments network, security framework, and regulatory expertise with Paymentology’s advanced cloud-based processing technology, the partnership enables fintechs to launch scalable and compliant card offerings. This streamlined approach ensures faster go-to-market timelines while maintaining robust compliance and operational efficiency.
Gabriel Swanepoel, Country Manager for Mastercard Southern Africa, emphasized the partnership’s role in driving inclusive financial growth:
“We are committed to supporting fintechs with the right tools to scale their businesses while simplifying the card issuance process. Our collaboration with Paymentology aligns with our mission to enable financial access for all South Africans, particularly those in underserved communities.”
Drisha Kirkman, Head of Programme Management and Sustainability at Paymentology, highlighted the transformative potential of the partnership:
“Our continued collaboration with Mastercard is accelerating the delivery of impactful payment solutions. Together, we are ensuring that fintechs can innovate more effectively, bringing financial services to more people across South Africa.”
Advancing Financial Inclusion and Digital Transformation
This initiative supports South Africa’s National Development Plan, which aims for 90% financial inclusion by 2030. By enhancing access to digital financial services, Mastercard and Paymentology are playing a pivotal role in expanding financial access, improving digital payment adoption, and fostering a more inclusive economy.
As part of Mastercard’s broader goal to integrate 1 billion people into the digital economy by 2025, this collaboration underscores its commitment to empowering fintechs as key drivers of financial inclusion, regulatory compliance, and digital finance innovation in South Africa and beyond.
Comments