Mastercard, DIFC to drive digital transformation with FinTech deal

Mastercard, DIFC to drive digital transformation with FinTech deal

Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, has signed a strategic collaboration agreement with Mastercard that aims to drive digital transformation through partnerships with innovative FinTech companies.

The partnership between DIFC and Mastercard will provide FinTech start-ups and established companies with access to Mastercard's network and expertise, as well as DIFC's world-class financial ecosystem.

The collaboration will focus on creating new payment solutions and digital services, as well as enhancing existing ones.

“At Mastercard, we are committed to driving innovation through collaboration between different players in the financial ecosystem. The collaboration between FinTech companies and established players would enable us to drive digital transformation. We are delighted to participate in DIFC’s programmes to accelerate innovation in the financial technology sector with the aim of boosting the country’s digital economy,” said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.

Mastercard’s collaboration with DIFC underpins the objective of the financial hub’s first global Venture Studio – DIFC Launchpad – which seeks to fast-track the growth of the UAE’s financial ecosystem and serve as a business enabler for venture studios, allowing them to set up and scale from DIFC, noted Ajmal.

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