Mastercard and Egabi Partner to Expand Digital Lending in EMEA:
Mastercard and Egabi, an Egyptian technology company, have announced a collaboration to expand access to digital lending solutions across Eastern Europe, the Middle East, and Africa. The partnership aims to provide underserved populations in these regions with access to financing, especially during the COVID-19 pandemic.
Egabi, which provides digital banking solutions to financial institutions, will leverage Mastercard’s expertise in digital payments to expand its reach and capabilities in the region. The collaboration will focus on providing digital lending solutions to financial institutions, allowing them to offer their customers quick and convenient access to credit.
According to the World Bank, approximately 1.7 billion adults globally do not have access to formal financial services, with most of them residing in low- and middle-income countries. The collaboration between Mastercard and Egabi aims to bridge this gap and provide underserved populations with access to financial services that can help them build a better future.
This collaboration is part of Mastercard’s ongoing efforts to promote financial inclusion and drive digital payments adoption globally. By partnering with local companies like Egabi, Mastercard can leverage their expertise and knowledge of local markets to develop tailored solutions that meet the needs of underserved populations.
Mastercard and Egabi’s collaboration will also leverage Mastercard’s payment technology to provide consumers with access to a range of payment options, including digital wallets and contactless payments. This will allow consumers to make transactions easily and securely, without the need for cash.
The COVID-19 pandemic has highlighted the need for digital financial solutions, with many people turning to digital payments and lending solutions to meet their financial needs. Mastercard and Egabi’s collaboration will help to meet this growing demand by providing consumers with access to safe and convenient digital lending solutions that can help them weather the economic impact of the pandemic.
By expanding access to digital lending solutions across Eastern Europe, the Middle East, and Africa, Mastercard and Egabi are helping to drive financial inclusion and support economic growth in these regions. The collaboration will help to provide underserved populations with access to the tools and resources they need to build a better future for themselves and their communities.
Mastercard and Egabi Partner to Expand Digital Lending in EMEA: Overall, this partnership between Mastercard and Egabi is an important step towards promoting financial inclusion and driving digital payments adoption globally. By working together, they can help to create a more inclusive and equitable financial system that benefits everyone, regardless of their socioeconomic status or geographic location.
