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Mastercard has announced a strategic partnership with Türkiye-based FinTech company Dgpays to accelerate the adoption of digital payments across Eastern Europe, the Middle East, and Africa (EEMEA).
According to a news release dated December 18, 2024, the collaboration aims to develop innovative payment technologies and loyalty solutions tailored to the unique needs of businesses and consumers in these regions. As part of the partnership, Mastercard has also made a minority investment in Dgpays to strengthen their joint commitment to advancing digital payments.
Advancing Digital Payment Solutions
The partnership focuses on providing secure, user-friendly, and practical digital payment solutions that enhance convenience and foster trust. By leveraging Mastercard’s global network and Dgpays’ local expertise, the initiative is set to transform payment experiences across EEMEA.
“By combining Mastercard’s global network with Dgpays’ local expertise, we are creating a platform for innovation that will transform how payments are made and experienced across the EEMEA region,” said Dimitrios Dosis, Mastercard’s president for the region.
The collaboration has received significant support from the Investment Office of the Presidency of the Republic of Türkiye, underscoring its strategic importance for the region.
Broader Efforts in Digital Payment Innovation
The Mastercard-Dgpays partnership comes on the heels of Mastercard’s recent collaboration with Equifax to provide fraud management solutions to businesses in Latin America (excluding Brazil). This effort focuses on delivering tools such as identity verification, fraud risk assessment, and order validation through Equifax’s Kount Payment Fraud solution.
Meanwhile, the digital payments industry continues to grapple with challenges such as maintaining seamless user experiences while addressing rising threats of fraud. Speaking on the matter, Sunny Thakkar, head of global fraud, disputes, and authentication products at Worldpay, highlighted the need for a balance between speed and security.
“People have become used to really instant payments,” Thakkar noted. “The challenge is maintaining a fast user experience while managing the inherent risks of eCommerce.”
Harnessing Technology to Combat Fraud
To address these challenges, companies are increasingly relying on technological advancements, including behavioral biometrics, geolocation data, and device information, to create sophisticated risk models without overburdening users with verification steps. Such innovations are essential for sustaining consumer trust and enhancing the digital payment ecosystem.
Driving Digital Transformation
Mastercard’s partnership with Dgpays represents a critical step toward advancing the digital payment landscape across EEMEA, aligning with global efforts to streamline payment solutions, combat fraud, and improve user experiences.
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