Mastercard and Ezipay reinforce alliance to enhance global payments for MEA region

Payments technology company Mastercard, has strengthened its partnership with EziPay to enable millions of consumers across the Middle East and Africa (MEA), to make global digital commerce payments through a seamless and secure digital payment experience.

Mastercard’s virtual payment solution, which is linked to the EziPay eWallet, will provide a convenient payment gateway service, to perform global digital transactions wherever Mastercard is accepted, said a statement.

Across MEA, mobile devices are the primary channel used to connect to the internet. According to GSMA, by 2025, it is estimated that there will be 300 million people using their devices to access internet services. As mobile financial services continue to dominate the digital payments sphere, consumers are increasingly expecting to have access to a broader range of digital financial solutions.

The Mastercard-Ezipay service is available regardless of whether the customer has a bank account or not. It will also allow small business owners to purchase from suppliers abroad and pay with the virtual payment solution.

“Our partnership with EziPay means we can advance financial inclusion by creating an inter-connected global payments ecosystem,” said Amnah Ajmal, Executive Vice President, Market Development, Eastern Europe, Middle East and Africa, Mastercard.

Also commenting, Amit Gaur, CEO at EziPay said, “In the past few years, we have seen the tremendous growth of the financial technology sector in MEA, contributing significantly to the advance of individual economies. The Mastercard collaboration comes as we champion digital financial inclusion, it will improve seamless transaction for online payments and connect millions to the global online market, empowering the most vulnerable in our society.”

Mastercard says collaborations, such as the one with EziPay, play a key role in advancing its worldwide commitment to financial inclusion and pledge to bring a total of 1 billion people, 50 million micro and small businesses, and 25 million women entrepreneurs into the digital economy by 2025.