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Mastercard & Payment24 to boost EMV adoption in EEMEA’s fleet sector

By Delisha Fernandes

May 24, 2024

  • Banking
  • EMV
  • fintech MENA
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Mastercard

Mastercard and Payment24 have extended their engagement across Eastern Europe, Middle East and Africa (EEMEA) to help bolster security and drive innovation within the fleet and fuel payment industry.

This partnership not only drives innovation in the fleet and fuel payments sector but also aims to speed up the transition to the secure EMV standard and help fleet operators reduce the risk of fraud associated with magnetic strip fleet cards.

“By combining Mastercard’s leading payment technology with Payment24’s innovative and proven fuel payments platform, we deliver a solution for the region that enhances security and adds significant value and convenience for customers,” said Clyde Rosanowski, Senior Vice President of Commercial Solutions, EEMEA at Mastercard.

This expanded collaboration extends the geographical reach of a proven solution and delivers modern fleet and fuel payment solutions to banks and fleet card issuers throughout the region. While drivers benefit from a quick, secure, and seamless way to make payments, fleet operators can now monitor driver spending in real time, set expense limits, and minimize the need for cash.

Through the partnership, customers will be able to take advantage of an end-to-end Fleet Management solution to help them rapidly deploy and scale their own secure fleet and fuel payment offerings. The offering is designed to deliver a suite of EMV-based payment products. It extends to a host of modern payment mechanisms, including tokenized tags, e-wallets and vouchers that are all native to the Payment24 platform.

“We are exceptionally proud of how our partnership with Mastercard has developed. The expansion of this alliance to EEMEA highlights the urgent need to get ahead of fraud in the fleet and fuel payments industry. We believe that our combined offering will help customers in the banking industry to better mitigate risks associated with legacy technologies while enhancing transparency and flexibility,” said Shadab Rahil, Joint CEO of Payment24.

Customers across the region can now rest assured that each transaction is protected by Mastercard’s multiple security layers, fraud prevention technologies, and dispute processes and underpinned by Payment24’s technical knowledge and in-depth understanding of fuel payment technologies.

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