Mastercard and Egyptian fintech Kashat signed a five-year agreement to digitize the onboarding, disbursement, and collection processes for MENA’s first nano financial service provider. Through the partnership with Mastercard, Kashat will launch a suitable and secure prepaid card product to help build a lasting relationship with our users and deliver reliable, innovative financial solutions.
Through partnerships with fintech companies, Mastercard power innovation and delivers a range of experiences enabling inclusivity for all. A curated, customized portfolio of Mastercard products, spanning payments, data, security, analytics, and fraud management, empowers fintech companies to operate as a trusted player in an evolving marketplace.
With Mastercard’s tech, Kashat can issue users safe and convenient ways to withdraw cash & repay loads. The partnership emphasizes both entities’ aim to drive financial inclusion and digitize Egypt’s economy. Kashat enables the unbanked and underbanked to create and cultivate a financial identity.
Mohamed Assem, Country Manager Egypt, Mastercard, stated that the company is committed to supporting fintech and recognizes the critical role they play in complementing the efforts of the government and the Central Bank of Egypt to grow financial inclusion and a digitized economy in Egypt. He added that the new opportunity with Kashat leads to a future of more collaboration and providing access to solutions, services, and expertise to drive financial inclusion among our communities.
