Astra Tech obtains Mastercard principal membership license

Astra Tech obtains Mastercard principal membership license

Source: Astra Tech

Astra Tech’s PayBy, a Central Bank-UAE licensed Fintech offering a variety of financial technology services, has achieved a significant milestone in the MENA region fintech space by becoming one of the first fintech player to obtain a Mastercard principal membership license.

This achievement further elevates Astra’s ecosystem, which is now enabled to provide users with the full spectrum of financial services. Furthermore, Astra’s PayBy is the pioneer in offering multi-currency prepaid metal cards through its premium card offering, providing customers with an elevated level of financial flexibility and convenience.

Through the partnership with Mastercard , Astra will issue branded Mastercard digital and physical cards to millions of users on top of its platforms BOTIM and Payby, providing authorization services and prepaid multi-currency cards. Additionally, Astra is licensed to act as an acquirer, leveraging Mastercard’s suite of products, including Payment Gateway, Tap on Phone, and Fraud & Cyber Security.

Additionally, as part of Astra’s vision to become