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Mastercard strengthens digital payment capabilities across EEMEA

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08/06/2022
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Mastercard strengthens digital payment capabilities across EEMEA

For the digitally connected consumer who seeks immediacy and convenience, Mastercard’s Digital First program delivers an innovative and secure experience that makes it easier to pay and enjoy the value of the card in ways that personally matter.

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Backed by the speed and security of Mastercard’s global network – including the Mastercard Processing platform to enable instant issuance – the Digital First program offers consumers the ease of applying online, instant digital card issuance, real-time card management and secure, straightforward online payments.

Mastercard’s’ Digital First program gives consumers a whole host of options in making payments – from ecommerce to contactless to QR, using any digital device of their choice. It also enables consumers to have control to manage their finances, as well as enhanced security for peace of mind. Not to mention, consumers get to interact with card benefits and offers, that deliver real value in moments that matter to them.

With consumers making a rapid and lasting shift to a “digital by default” mindset, Mastercard’s research shows that 73% of consumers in the Middle East and Africa are shopping more online since the onset of the pandemic, while 66% have started to bank online. Another Mastercard study indicated that 9 in 10 consumers in the MEA region are considering using at least one emerging digital payment method such as cryptocurrency, biometrics, contactless, QR code or digital wallets.

With this greater demand for digital experiences, Mastercard is enabling its customers to innovate faster by providing a network of partners that support each step of the consumer digital journey – from acquisition and card usage to management and engagement, with a physical card option. Building a robust network of qualified enablers is helping customers quickly launch digital products from the ground up.

“Digital First is all about providing choice and convenience across the digital payment landscape. This region is embracing the digital revolution to realize its true digital potential and that is exciting news for the whole ecosystem, from consumers and small businesses to financial institutions and governments. Mastercard is looking forward to growing the digital economy through our partnerships and continuous innovation in the Middle East and Africa,” said Gaurang Shah, Head of Products EEMEA, Mastercard.

For the Digital First program across EEMEA, Mastercard network includes a cohesive list of Digital First partners. These technology and fintech partners have the expertise to simplify the process of bringing best-in-class capabilities into the issuer environment. Mastercard customers in EEMEA, can leverage the excellent global partnerships with end-to-end Digital First enablers, such as Thales, Network International and Verestro, along with regional partners with stellar reputations, such as  FOO, Ukeshe, and Paymentology

Together with Mastercard, these players work with issuing banks to ensure the foundational requirements of the Digital First Card Program are met, which has been built to deliver an optimal and secure consumer experience by focusing on the following key areas:

  1. Online Application: Enables consumers to apply online and receive card information almost immediately upon issuer approval.
  1. Near-Instant Issuance: Gives cardholders access to their card information almost immediately to begin making purchases online, in app and at the point of sale through digital wallet offerings. A physical-optional card with a sleek, flexible design is also available to the cardholder.
  1. Quick Access to Card Details: Offers quick access to card information, including the 16-digit PAN, CVC2, expiration date and customer service information via digital environment, eliminating the need for it to be displayed on the physical card and enabling the cardholder to access it securely with ease.
  1. Simple and Easy Management: Allows cardholders to manage their payment credentials digitally, including access to transaction history and balance information, alerts, and access to card benefits.
  1. Enhanced Engagement: Enabling cardholders to access and receive benefits, offers, and loyalty solutions – that are highly personalized and relevant – through a digital environment

The expansion of Mastercard’s Digital First Card Program signals an industry-wide shift to providing consumers with end-to-end payments options at scale. By enabling processors with the technology and go-to-market strategy, more and more cardholders can experience the benefits of the Digital First Card Program.

Mastercard strengthens digital payment capabilities across EEMEA

Source: African Business Communities
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