Mastercard is expanding its Product Express platform across Africa, the Middle East, Europe, North America, and additional markets in Latin America, enabling fintechs to launch card programs with speed, simplicity, and full transparency.
Mastercard announced on Oct.24 that following a successful launch in Latin America earlier this year, its new Product Express platform would now empower fintechs across Africa, the Middle East, Europe, and North America to roll out card programs in as little as 15 days.
Product Express is a solution designed to help fintechs and financial institutions quickly launch customised card programs for credit, debit, and prepaid cards. The platform provides fintechs with access to the necessary tools, resources and partners required to launch and scale. It streamlines typically complex card issuance processes, enabling partners to fully develop and launch card products within a significantly reduced timeline — sometimes as fast as 15 days.
The platform allows fintechs to easily choose the most suitable products, select certified partners ready to implement their projects with features like live BINs and pre-approved card designs, as well as track card issuance progress with full transparency across every step. This streamlined approach drastically reduces time to market.
Within the first year of launch, Mastercard enriched the platform with BIN Sponsors, Processors and Program Managers like Blusalt, Episode Six, FOO, Giftstarr, i2c Inc., Nymcard, Optimus, Paymentology, and Wema Bank.
In the near future, the Product Express platform is also supposed to expand the offering beyond card issuance. The platform will host simple, fast and transparent onboarding tools for additional solutions to enable global payment acceptance. These include Acceptance solutions available globally as well as enterprise payment solutions via Mastercard Gateway.
Acceptance solutions are designed to help businesses and financial institutions securely accept payments across various channels — online, in-store, mobile, etc. They include a Tap-to-Phone solution, payment gateway services, digital wallet solutions, Secure Remote Commerce (SRC) also known as Click to Pay, Mastercard Identity Check and tokenization tools for fraud protection, Mastercard Cross-Border Services, QR code payments, and more.
The fresh service is part of Mastercard’s broader suite of solutions to support digital transformation and financial inclusion with a simplified, transparent setup process.
Recently, Mastercard has launched the Move Commercial Payments solution for near real-time cross-border commercial transactions, which is designed to streamline operations, enhance liquidity management, lower counterparty risk, and offer comprehensive visibility for banks and their clients.
