The partnership will enable smoother digital transactions in the country
Mastercard has announced a partnership with Carticard, egabi FSI’s strategic partner. They aim to offer Carticard customers improved digital payment solutions while incorporating more people into the digital economy.
The new partnership will enable Carticard to directly distribute loans through Mastercard prepaid cards.
The collaboration will see Carticard expand its cardholders’ network to 400,000 and support egabi FSI in expanding its microloans platform to reach its goal of 8 million consumers by 2022.
The COVID-19 pandemic and the measures put in place by the Egyptian government to curb the spread of the virus have already led to an 80% increase in e-commerce transactions in the local market, bringing the country one step closer to a fully integrated digital economy.
We’ve reported that Mastercard and B2B platform EnKash have partnered to expand the acceptance of commercial cards across India.