Mastercard, One Global™ and i2c partner to launch integrated wallet in Middle East and North Africa, along with issuing capability for fintechs
- The partnership reinforces the region’s position as a leading financial ecosystem.
- One Global™ will offer banks, merchants and fintechs a single window to issue cards and wallet services, powered by i2c’s best-in-class processing capabilities
- Fintechs and neo banks will benefit from increased speed and simplicity, improving the customer experience for secure and convenient digital payments
Manama, Bahrain – 22 May 2022 – Mastercard, One Global™ and i2c have announced a partnership to provide tailored financial solutions that will enable the issuance of digital mobile wallets in the region. Through this partnership, banks, fintech, merchants and wallet providers can now offer consumers in the region easy access to cutting edge, digital-first payment solutions and services.
Mastercard’s Fintech Express provides a suite of tools and resources to enable payment innovators to grow and scale their business by leveraging the power of partnerships. The partnership approach enables Mastercard to expedite onboarding, accelerate program launch and reduce process complexity for partners. Through this launch, Mastercard and i2c will provide an exchange to exchange (E2E) solution for fintechs to go to market faster and in a more agile way.
Amnah Ajmal, Executive Vice President, Market Development, Eastern Europe, Middle East and Africa at Mastercard said: “Following the successful adoption of Mastercard Digital First solutions by many leading banks, we have introduced approaches that simplify integration for innovators like fintechs, merchants and neo banks. Making this possible are programs like Mastercard Fintech Express, through which we enable the ecosystem to partner more effectively. This announcement is an excellent example of collaboration to solve for speed, service and scale, while accelerating financial inclusion and innovation in the region.”
By working in partnership with Mastercard and i2c, One Global™ is fixing a process that is often siloed, time consuming and limiting for innovation. Mohammed Al Rashidi, Founder and Executive Chairman of One Global™ said, “This collaboration reduces integration time significantly and makes the engagement process simpler for payment innovators. Today, they must search for a BIN Sponsor, an issuer-processor, a network partner, and much more. We bring this engagement into a single window with three interventions.”
“The One Global™ Og Stack™ enables banking-as-a-service for startups, fintechs, mega merchants and banks. As a principal Mastercard license holder in Bahrain, One Global™ offers its own BIN sponsorship capabilities. Through our partnership with i2c, we take care of various possible issuing processing needs. Together, we are well placed to meet rising consumer demands,” Mohammed continued.
The One Global™ Og Stack™ is the world’s first digital transformation and innovation-driven platform that enables new ideas to reach global markets and brings them together with incubators, investors, venture capitalists and various business clients with a single integrated SDK that connects both startups’ innovations and Enterprises’ omni channels.
Kevin Fox, Global Head of Sales of i2c Inc., said, “i2c’s tech stack is an agile offering that enables various use cases from commercial to personal, from end-to-end, including digital-first payment methods such as contactless payments. We recognize the intrinsic benefits of partnering with mobile channel technology partners and networks. The market has a specific need for this kind of offering, and the demand is very visible. Fintech companies are facing challenges when it comes to engaging the ecosystem needed to launch their digital banking services, so this alliance will offer a quick, sustainable, and resilient resolution to those challenges.”
About Mastercard Incorporated (NYSE: MA), www.mastercard.com
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, smart, and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
About One Global™, www.onegobal.com
One Global™ is a Digital Transformation and Innovation Company, specialized in fintech arena, with 3.2 million customers on board, a global player started its journey in 2004 and with a strong presence in more than 20 countries worldwide across GCC, Middle East, North Africa, East Africa, South Asia, Southeast Asia, Europe, US & Canada.
One Global™ is driven by in-house innovation and offers a wide range of Mobilized Lifestyle® services via its vertical markets Og Money™, Og Health™, Og Travel™, Og Business™ and Og stack™, to deliver to consumers and businesses via native cloud and web hosting services.
About i2c Inc.
i2c is a global provider of highly-configurable payment and banking solutions. Using i2c's proprietary "building block" technology, clients can easily create and manage a comprehensive set of solutions for credit, debit, prepaid, lending and more, quickly and cost-effectively. i2c delivers unparalleled flexibility, agility, security and reliability from a single global SaaS platform. Founded in 2001, and headquartered in Silicon Valley, i2c's next-generation technology supports millions of users in more than 200 countries/ territories and across all time zones.
For more information, visit i2cinc.com and follow us at @i2cinc.
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