Mastercard And Paymentology Expand Card Issuance Capabilities to Empower South African Fintechs
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Mastercard is strengthening its partnership with Paymentology, a global leader in next-generation issuer processing, to streamline card issuance for fintech companies in South Africa. This initiative aims to equip fintechs with the infrastructure, expertise, and market acceleration tools needed to scale their operations efficiently, ultimately driving greater financial inclusion and digital transformation.
South Africa’s fintech ecosystem is growing rapidly, accounting for 40% of Africa’s total fintech revenue (Fintech in Africa Report 2024). However, many startups and digital financial service providers struggle with the complexities of launching card programs. Mastercard and Paymentology are bridging this gap by providing seamless access to the infrastructure required to develop card solutions for both niche markets and underserved communities.
By combining Mastercard’s global payments network, security framework, and regulatory expertise with Paymentology’s cutting-edge cloud-based processing technology, the partnership enables fintechs to introduce scalable and innovative card offerings. This collaboration ensures a faster go-to-market strategy while maintaining robust compliance and operational efficiency.
Gabriel Swanepoel, Country Manager for Mastercard Southern Africa, emphasized the partnership’s role in driving inclusive growth: “We are committed to supporting fintechs with the right tools to scale their businesses while simplifying the card issuance process. Our collaboration with Paymentology aligns with our mission to enable financial access for all South Africans, particularly those in underserved communities.”
Drisha Kirkman, Head of Programme Management and Sustainability at Paymentology, highlighted the partnership’s transformative potential: “Our continued collaboration with Mastercard is accelerating the delivery of impactful payment solutions. Together, we are ensuring that fintechs can innovate more effectively, bringing financial services to more people across South Africa.”
This initiative aligns with South Africa’s National Development Plan, which aims for 90% financial inclusion by 2030. By enhancing access to digital financial services, Mastercard and Paymentology are playing a pivotal role in shaping a more inclusive economy.
As part of Mastercard’s broader goal to integrate 1 billion people into the digital economy by 2025, this collaboration reinforces the company’s commitment to supporting fintechs as key drivers of financial inclusion in South Africa and beyond.
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