8.6 C
New York
Thursday, July 29, 2021
Home News Mastercard and Samsung partner for Pay on Demand

Mastercard and Samsung partner for Pay on Demand

Mastercard announced on Thursday it has formed a global partnership with Samsung in order to enable digital access to consumers and small businesses in emerging markets through its extensible Pay on Demand platform.

According to Mastercard, the Pay on Demand platform is designed to accelerate digital inclusion by bringing together financial institutions, original equipment manufacturers and telcos to solve issues that have limited device financing in emerging markets. 

Related: Mastercard announces Michael Miebach will be the new chief

“At Mastercard, we see a connected world where opportunity and prosperity are possible for everyone, everywhere,” said Jorn Lambert, executive vice president, Digital Solutions, Mastercard.

Jorn Lambert

“The Pay on Demand platform enables us to deliver on that vision and foster financial inclusion, giving consumers an opportunity to participate in digital commerce. By combining Samsung’s device management and security expertise with Mastercard’s innovative technology, we are creating an ecosystem that can deliver a measurable, positive impact on the communities we serve.”

“Our vision is to inspire the world and shape the future through transformative ideas and technologies,” said KC Choi, executive vice president, Global Mobile B2B, Samsung.

Related: Digital wallets account for 22% of global POS spend

“This partnership with Mastercard is our way of making that future available to everyone by helping to close the digital divide, especially in emerging economies and countries.”

The platform, built by Mastercard Labs, will be launched with the Samsung Knox team in the Middle East and Africa region in early 2020 and extend to additional regions later this year.

Avatar
Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

Starling Bank’s first acquisition is Fleet Mortgages

UK challenger Starling bank acquires Fleet mortgages as its first corporate acquisition.

Starling Bank revenue skyrockets by 600%

The digital bank Starling has managed to grow revenues to £97.6 million from £14 million in the previous period.

Revolut launched a travel booking feature

After Softbank lead an $800 million investment into Revolut, the UK-based challenger bank came up with another feature - travel booking.

Kid accounts and challenger bank options for children

Revolut junior vs. Starling Bank Kite? 🤔 Once again Everly - challenger bank news joined forces with the Scientia team and their Fintech Insights, the digital banking research platform, to compare several challenger banks' junior accounts from parent's and kid's perspectives! 👍 Check the full article here