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Mastercard collaborates with Euronet Pakistan to modernize payment units

KARACHI: Mastercard has announced a strategic partnership with Euronet – an industry leader in processing secure electronic financial transactions – to bring Card-as-a-Service (CaaS) and Bank-as-a-Fintech (BaaF) solutions to Pakistan. The emerging CaaS and BaaF models allow banks, non-financial institutions and fintechs to easily create and launch innovative products with scalability and quicker time-to-market, says a Press release.
This partnership will introduce Mastercard products and services to a range of players by building a ready-to-market CaaS and BaaF hub under a fully outsourced and managed services model hosted on Euronet’s next-gen payments platform.
The proposition encompasses Mastercard and Euronet’s integrated platform and solutions, allowing businesses to swiftly introduce next-generation customer propositions. The partnership paves the way for issuer banks to roll out customer-focused solutions in record time through off-the-shelf, ready to market use cases, delivered through sandbox portals tailored to banks, fintech companies, and non-financial institutions segments.