Mastercard Announces New Kashat Partnership and Platform for MEA Financial Institutions

Mastercard Announces New Kashat Partnership and Platform for MEA Financial Institutions

Mastercard and Fintech Kashat partner to expand financial services to Egypt’s unbanked and underbanked In a move that will see enhanced financial services for people in Egypt, Mastercard and Egyptian fintech Kashat have signed a five-year agreement that will digitise the onboarding, disbursement, and collection processes for MENA’s first nano financial service provider. Kashat will now be able to issue prepaid cards to users and offer them safe and convenient ways to withdraw money and repay their loans using Mastercard’s technology and payment rails. The partnership highlights both entities’ commitment to driving financial inclusion in Egypt . “We are committed to supporting fintechs and recognise the important role they play in complementing the efforts of the government and the Central Bank of Egypt to grow financial inclusion and a digitised economy in Egypt,” said Mohamed Assem , Country Manager Egypt, Mastercard. “Our new journey with Kashat heralds a future of increased collaboration, and we look forward to providing access to our solutions, services and expertise to Kashat as we look to drive financial inclusion among our communities,” he added. “Through our partnership with Mastercard , we will be able to launch a convenient and secure prepaid card product that will