Mastercard and Paymentology teams signing the partnership agreement to facilitate card issuance for fintech companies in South Africa.

Mastercard and Paymentology, are deepening their collaboration to facilitate card issuance for fintech companies in South Africa.

According to Mastercard, a payment network company, the partnership will offer fintechs the infrastructure and go-to-market capabilities needed to issue payment cards.

It claims that many South African fintechs face challenges in scaling their payment solutions.

Paymentology, a card issuer and processing provider, and Mastercard aim to help fintechs to launch card services that offer use cases for specific niches and meet the needs of unbanked communities.

“We are committed to equipping fintech companies with market-relevant solutions that enable them to scale effectively. Together, we are simplifying card issuance and creating new pathways for financial access for the underserved populations in South Africa,” said Gabriel Swanepoel, country manager at Mastercard Southern Africa.

Drisha Kirkman, head of Programme Management and Sustainability at Paymentology, said: “This agreement solidifies both our companies’ commitment to advancing financial inclusion in South Africa.”