Mastercard has partnered with payment solutions provider enza to connect fintech companies across Africa to its network, aiming to better serve both consumers and businesses.
The collaboration was disclosed in a statement on Saturday, according to The Punch.
A European Investment Bank report shows that the number of fintech companies in Africa has nearly tripled since 2020.
Many of these firms are embedding payment services into broader platforms that improve financial access and offer more affordable alternatives to traditional systems.
Through the new collaboration, Mastercard stated that fintechs will gain easier access to its full range of services.
The partnership is intended to simplify processes and help emerging companies bring digital financial solutions to market faster across the continent.
“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,” said executive vice president, Market Development, EEMEA, Mastercard, Mete Guney.
Under the agreement, Enza will manage consumer and merchant accounts, oversee integration with Mastercard’s network, and uphold strong security and system reliability.
Fintech companies will be able to set up prepaid or postpaid accounts and issue both physical and virtual Mastercard cards.
For businesses, Enza will enable Mastercard payment acceptance across physical stores, online platforms, and mobile apps.
Executive Director of Enza, Andrew Key explained, “Enza is on a mission to make digital payments more accessible and affordable across Africa, helping to build a more financially inclusive continent that is ready and able to compete globally.
“Our collaboration with Mastercard leverages our existing relationship to more effectively serve the fintech community. Together, we will provide innovators with a platform capability that means they do not need to build this aspect of their proposition and can get to market with greater speed and security.”
Enza, founded in 2023, is based in Abu Dhabi and has regional offices in Egypt, South Africa, and Nigeria.
