Mastercard and NAPS, a Moroccan fintech firm, have initiated a collaboration to develop modern fee options for people and companies. The partnership consolidates the robust historic relationship between the 2 entities.
NAPS is on a mission to increase the horizons of digital funds in Morocco. NAPS advantages from the 30+ years of experience of M2M Group in software program for digital funds and biometric id. As Mastercard’s companion, NAPS advantages from entry to its intensive community, experience and wide-ranging portfolio of services, powered by modern and safe applied sciences.
“At Mastercard, we’re dedicated to supporting a world community of innovators with the intention of constructing a extra accessible and sustainable digital financial system. We function a trusted companion of pioneering fintech corporations throughout all phases of growth, serving to them obtain agility and pace. We’re delighted to share our technological experience with NAPS to pursue our frequent goal of advancing inclusive progress,” stated Mohamed Benomar, Nation Basic Supervisor, MENA West, Mastercard.
“The partnership with Mastercard will reinforce our place as a market-leading fintech firm and help the tradition of innovation that’s on the core of all the pieces we do. By accelerating the event of digital fee options in Morocco, it is going to additionally contribute to cementing the nation’s standing as a premier fintech hub within the Arab world,” stated Hassan Ghellab, CEO, NAPS.
In step with NAPS’s long-term technique, the collaboration will increase the corporate’s innovation capabilities by way of Mastercard’s superior know-how and optimize time to marketplace for its upcoming digital choices.
NAPS and Mastercard intention to create new ecosystems of digital providers in Morocco to unlock the total potential of digital funds and supply customers with an enhanced expertise by way of modern providers so as to promote monetary inclusion. These digital ecosystems will allow the event of high-value functions and discover new service alternatives, contributing to innovation and the digital transformation of the sector.
The CGAP report Fintechs Throughout the Arab World issued in December 2020, highlighted Morocco because the third-largest fintech hub among the many 22 member international locations of the Arab League. Excessive cell protection, a big unbanked inhabitants, an ample provide of expertise, infrastructure upgrades and authorities initiatives encouraging the uptake of digital monetary providers, coupled with enabling laws, are among the many key drivers of progress on this house.