back Back

Mastercard & Dapi partner to bring A2A payments to the UAE

By Leandra Monteiro

June 01, 2023

  • A2A Payments
  • Dapi
  • Digital Payments
Share

Mastercard, DapiDapi, a UAE-based FinTech company announced a strategic partnership with global technology company Mastercard, aimed at introducing account-to-account (A2A) payments on Mastercard Payment Gateway Services (MPGS).

This collaboration will harness Dapi’s expertise in open banking and Mastercard’s extensive payment options to provide businesses in the UAE with a secure and streamlined A2A payment solution within the MPGS ecosystem, addressing evolving consumer needs and enhancing the overall payment experience.

Both parties aim to create an ecosystem that fosters financial inclusion, while driving innovation and growth in the region’s digital economy. This partnership promises to instantly elevate the payment experience for hundreds of thousands of merchants, redefining seamless financial transactions on an unprecedented scale.

“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.”

Earlier last year, Dapi joined the inaugural cohort of the Mastercard Start Path Open Banking program as the first Open Banking player from the MENA region. While in the program, Dapi leveraged Mastercard’s open banking expertise and engaged with Mastercard’s ecosystem of banks, merchants, partners, and digital players across the globe to deliver enhanced open banking solutions to the region and beyond.

Previous Article

June 01, 2023

Payhawk unveils new Enterprise Plan in partnership with Microsoft

Read More
Next Article

June 01, 2023

Agent IQ secures capital from Bankers Helping Bankers Fund

Read More






IBSi Daily News Analysis

UK, Bank

July 12, 2024

A2A Payments

Global securities lending revenue sees sharp 16% decline to $2.53bn in Q2 2024, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 12, 2024

Nuvei and Mastercard team to enable crypto to fiat conversion

Read More

July 12, 2024

Payset and ClearBank partner for local and cross-border payments

Read More

July 12, 2024

Network International launches Business Payment Solutions with Mastercard

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024