Mastercard Partners with enza to Boost Embedded Payments for African Fintechs

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Mastercard Partners with enza to Boost Embedded Payments for African Fintechs

Partnership to simplify access to Mastercard’s network and support faster rollout of digital financial services across Africa.

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Mastercard has announced a collaboration with enza, an Abu Dhabi-based payment solutions company, aimed at supporting the expansion of fintech companies across Africa.

Through this partnership, fintech firms will gain access to Mastercard’s global network via the enza platform, enabling them to integrate embedded payment capabilities into services for both consumers and businesses.

A recent report from the European Investment Bank highlights the rapid growth of the fintech sector in Africa, noting that the number of companies has nearly tripled since 2020.

Many of these businesses focus on incorporating payment services into broader financial solutions, offering alternatives to traditional systems that often involve high operational costs.

The partnership between Mastercard and enza is intended to simplify access to Mastercard’s suite of services, reduce technical complexity, and shorten the time it takes for new fintech offerings to reach the market.

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Mete Guney, Mastercard’s Executive Vice President of Market Development for EEMEA, stated, "At Mastercard, we are focused on powering the fintech ecosystem by enabling access to our trusted global network. Through our work with enza, fintech innovators in Africa will be able to deploy embedded payment capabilities more efficiently – helping accelerate financial inclusion and the region’s digital transformation."

As part of the agreement, enza will host both consumer and merchant accounts, manage integration with the Mastercard network, and maintain system security and reliability.

The platform will allow fintech companies to configure prepaid or postpaid accounts and issue physical or virtual Mastercard cards.

For businesses, enza will support Mastercard payment acceptance across physical stores, online platforms, and mobile applications.

Andrew Key, enza’s Executive Director, mentioned, "Our collaboration with Mastercard leverages our existing relationship to serve the fintech community more effectively. Together, we will provide a platform capability that allows innovators to bring their offerings to market faster and more securely."

Founded in 2023, enza has regional offices in Egypt, South Africa, and Nigeria, aiming to support financial service providers with flexible tools to enter new markets, improve customer offerings, and expand revenue opportunities.

Featured image credit: Mastercard