Mastercard Collaborates with Dapi To Bring Seamless A2A Payments

CIOTechOutlook Team | Friday, 02 June 2023, 08:51 IST

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Account-to-account (A2A) payments will be made possible on Mastercard Payment Gateway Services (MPGS) thanks to a strategic agreement between Dapi, a fintech firm based in the UAE and a member of Hub71's global digital ecosystem. At Seamless Middle East, the largest conference on the evolution of digital commerce, the deal was inked.
 
Through this partnership, businesses in the UAE will receive a secure and convenient A2A payment solution within the MPGS ecosystem, answering changing consumer expectations and improving the entire payment experience. Dapi is a leader in open banking, and Mastercard has a wide range of payment alternatives. The collaboration was made possible by Hub71 as part of its initiatives to open up business and market prospects between its corporate partners and its entrepreneurs.
 
Both parties hope to build an ecosystem through this partnership that promotes financial inclusion while fostering innovation and expansion of the local digital economy. This alliance aims to redefine frictionless financial transactions on an unprecedented scale and immediately improve the payment experience for hundreds of thousands of merchants.
 
“Today marks a new chapter in our journey to reshape the financial landscape,” shared Ihsan Al Hayek, co-founder of Dapi. “This is a significant milestone for the open banking agenda and the regional payment landscape, and our strategic alliance with Mastercard fortifies our influence in the MENA region, driving financial inclusion and ensuring a sustainable and inclusive digital economy for all.”
 
Commenting on the partnership, J.K. Khalil, Cluster General Manager, MENA East, Mastercard said: “Embedding Dapi’s advanced open banking solution within MPGS forms an integral part of our strategic blueprint to enrich and expand the payment methods available to our customers. We envision a future where secure, efficient A2A payments transcend from being merely aspirational to everyday reality, providing seamless transaction experiences for our customers.”
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