Mastercard Partners NAPS To Drive Innovation Across Morocco’s Digital Payments Landscape
PRESS RELEASE
As Mastercard’s partner, NAPS benefits from access to its extensive network, expertise and wide-ranging portfolio of products and services
Recently, Mastercard (www.Mastercard.com) and NAPS, a leading Moroccan fintech company, have initiated a collaboration to develop innovative payment solutions for individuals and businesses.
This partnership they said will consolidates the strong historical relationship between the two entities.
It was gathered that NAPS is on a mission to expand the horizons of digital payments in Morocco. NAPS benefits from the 30+ years of expertise of M2M Group in software for electronic payments and biometric identity.
NAPS as Mastercard’s partner, will benefit from access to its extensive network, expertise and wide-ranging portfolio of products and services, powered by innovative and secure technologies.
In line with NAPS’s long-term strategy, the collaboration will boost the company’s innovation capabilities through Mastercard’s advanced technology and optimize time to market for its upcoming digital offerings.
Mohamed Benomar, Country General Manager, MENA West, Mastercard said, “At Mastercard, we are committed to supporting a global network of innovators with the aim of building a more accessible and sustainable digital economy. We serve as a trusted partner of pioneering fintech companies across all stages of development, helping them achieve agility and speed. We are delighted to share our technological expertise with NAPS to pursue our common objective of advancing inclusive growth.”
In same vein, Hassan Ghellab, CEO, NAPS also said, “The partnership with Mastercard will reinforce our position as a market-leading fintech company and support the culture of innovation that is at the core of everything we do. By accelerating the development of digital payment solutions in Morocco, it will also contribute to cementing the country’s status as a premier fintech hub in the Arab world.”
However, NAPS and Mastercard aim to create new ecosystems of digital services in Morocco to unlock the full potential of digital payments and provide users with an enhanced experience through innovative services in order to promote financial inclusion. These digital ecosystems will enable the development of high-value applications and explore new service opportunities, contributing to innovation and the digital transformation of the sector.
Recalling that, the CGAP report Fintechs ccross the Arab World (https://apo-opa.info/45GTTGZ), issued in December 2020, highlighted Morocco as the third-largest fintech hub among the 22 member countries of the Arab League. High mobile coverage, a large unbanked population, an abundant supply of talent, infrastructure upgrades and government initiatives encouraging the uptake of digital financial services, coupled with enabling regulations, are among the key drivers of growth in this space.
(Distributed by APO Group on behalf of Mastercard)