Mastercard has partnered with SimpliFi, the leading regional Cards as a Service (CaaS) platform, to enhance digital payment adoption in the Middle East and North Africa (MENA). CaaS is an up-and-coming card-issuing model that enables companies to easily develop and launch card services as part of their business offering.
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With demand for digital payments rapidly accelerating in the region, along with the shift towards cost-effective payment solutions, this strategic partnership will empower businesses to bring to market Mastercard-enabled payment products and services in record time.
SimpliFi empowers businesses to have financial ownership by enabling them to issue payment cards to streamline business operations and drive new revenue streams. They serve as a single API for fintech companies, telcos, retailers, SaaS platforms and merchants who can integrate with SimpliFi and launch and run a card payments program with ease. In addition to enablement of card products, SimpliFi is rapidly expanding its product suite into other payment services in line with its strategy to offer a wide spectrum of payment solutions.
“Mastercard has been at the forefront of innovation, actively supporting fintech companies and businesses in bringing new customer-centric payment solutions to market with speed and ease. We are delighted to partner with Mastercard, as this association will enable our clients across the region to leverage the company’s extensive suite of products and global infrastructure,” said Ali Amin Sattar, Founder and CEO of SimpliFi.
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The collaboration will leverage SimpliFi’s innovative technology in a seamless manner, thereby significantly reducing time and costs associated with such initiatives. Through introducing market-leading solutions to this partnership, Mastercard will contribute to advancing the digitalization of the payments ecosystem in the region.
“Mastercard’s mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. SimpliFi’s mission to democratize payments aligns with our objectives and we look forward to working with the company on equipping businesses with innovative payment solutions that will allow them to participate in digital commerce while fostering financial inclusion across the region,” said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.
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With operations in the UAE, Saudi Arabia, Bahrain and Egypt, and with additional markets to follow, SimpliFi can fast track launch of payment products for businesses across multiple markets simultaneously with one integration and a seamless journey.