In the most recent news about startups, the South African company Scale has teamed up with Mastercard to help fintech companies in Africa and the Middle East get their goods to market faster.
Local company Scale focuses on payment orchestration, which means it helps businesses decide whether to accept or reject a transaction. It was started by two women of colour, Miranda Perumal and Barbara Woollams. Perumal is currently the CEO.
As a “fintech agency,” it helps its companies launch, implement, and grow. Business launch is easier with scale. It provides project managers, strategy, partners, market analysis, and money.
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It even offers digital content marketing and social media advertising.
Mastercard claims the agreement will lower technical and commercial hurdles for fintech and digital finance companies implementing payment programs. These companies can launch new products and services faster with scale.
“At Mastercard, we are committed to working with local ecosystem players to drive the growth of innovative payment solutions across the region to bridge the digital gap, enhance financial inclusion and improve access to financial services. With its in-depth knowledge of the fintech landscape, Scale is our ideal partner in achieving these goals,” said Amnah Ajmal, executive vice president, Market Development, EEMEA, Mastercard
Mastercard and Scale’s Strategic Support
Mastercard and Scale will help fintech companies and other ecosystem players secure BIN sponsorships, build sustainable unit economics, design and commercialise card and other payment programs, productise, assess profitability models, and deliver fantastic customer experiences.
In a media source, Mastercard said the alliance will become a technical proposition that allows any tech business to issue Mastercards through Scale.
“Fintech companies move at speed and require commercially viable collaborations with experienced companies that cater to a cost-sensitive market,” enthused Perumal.
“Through our exciting partnership with Mastercard, we are solving a major pain point and providing a single point of contact while absorbing the complexities of seeking a bank BIN sponsor, third-party processor and other payment solution providers. This combined ecosystem service allows fintech players to focus on their core business and us to focus on ours – streamlining processes, enabling payments and supporting the program’s growth to earn revenues faster.”
By providing these companies with information about competitors, customer behaviour, and market dynamics, the scale will now help Mastercard’s fintech partners grow their portfolios, earn more money, and finally make a profit.
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About Mastercard
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere, by making transactions safe, simple, intelligent and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realise their most significant potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
About Scale
Founded by South African entrepreneur and industry expert Miranda Perumal, Scale is charting a course to reshape the continent’s financial landscape. The startup supports Fintechs across their segments and stages by enabling their Go-To-Market and Speed-to-Revenue strategies through the technology and partnership suite. The launch of Scale has already generated considerable traction within the fintech community, with several prominent clients, partners and investors expressing excitement about the venture.