Mastercard has partnered with the fintech solutions provider egabi to advance financial institutions and non-traditional partners’ access to new embedded finance and digital lending solutions across Eastern Europe, the Middle East and Africa.
Under the agreement, the payments company will activate egabi’s digital-lending capabilities and assets to provide an end-to-end lending proposition to financial institutions and fintech companies. This is further augmented by offering Mastercard’s digital-first products to issuers willing to enter the digital lending space.
“Through our multi-rail capabilities, we can solve pain points for multiple customer segments, and enable partners to quickly go to market with the ability to effectively scale,” said Gaurang Shah, Mastercard’s Executive Vice President, Product and Engineering, Eastern Europe, Middle East and Africa.
Mastercard’s technology along with egabi’s digital lending platforms makes it easier for organisations to enter the digital lending space, serving both consumers looking for BNPL affordable payment plans and SMEs looking for microfinance solutions.
“The partnership with Mastercard reflects the trust of global financial institutions in egabi as a fintech technology enabler and the quality of egabi’s products,” Ahmed Sameh, CEO of egabi said adding that the partnership will open doors for wider market coverage.
With Mastercard’s capabilities, organisations can obtain market readiness within weeks, while benefiting from quick launch activations, engagement efforts, and flexibility as part of a less complex subscription-based approach that facilitates cost-efficient pricing.
Embedded finance enables consumers access to financial services even if they are on non-financial platforms or tools.
