Hub71 startup Zywa partners with Mastercard to empower UAE youth to go cashless

Hub71 startup Zywa partners with Mastercard to empower UAE youth to go cashless

Partnership aims to enable younger users with seamless money management and cashless payments experience

Zywa provides 10-to-25-year olds with a community-based app and a card to manage their money. - Supplied photo

Published: Wed 8 Mar 2023, 3:48 PM

Zywa, a UAE-based fintech, has signed a strategic partnership agreement with Mastercard.

Zywa provides 10-to-25-year olds with a community-based app and a card to manage their money. Through this partnership, Zywa will cater to its Gen Z audience with a seamless payments and money management experience, enabling them to save towards their financial goals, send and receive money, split the bill with friends, pay bills and shop online. Additionally, for teenagers under 18 years old, parents will be able to transfer money to their children’s accounts and have oversight on their spending and saving habits, which helps them build their financial literacy.

The partnership was initiated by Hub71, Abu Dhabi’s global tech ecosystem, as part of its efforts to support startups with commercial opportunities through its broad network of leading corporate and government partners.

Alok Kumar, Zywa’s Co-founder and CEO, said: “Partnering with Mastercard marks a thrilling milestone in our journey towards revolutionizing finance for the next generation. This strategic alliance provides us with a significant competitive