Working with mobile and digital payments, it has always been important for us at MeaWallet to have a close relationship to the payment networks, such as American Express, Mastercard and Visa. It is the payment networks – together with other members – that forms the future of payments through EMVco, and the payment networks are the ones implementing the standards. In order to ensure our products are in the forefront of the technology evolution, we have always spent a lot of time and effort working directly with the three major global schemes. This provides us with access to the latest updates, insight and market trends, as well as the ability to help influence the future of payments. We, in our turn, aims to share what we learn with our customers and friends.
The major schemes are also seeing the value of their partners, and have built great partner programs to ensure the flow of information. Today, MeaWallet are part of American Express Global Network, Mastercard Engage and Visa Ready program. A recent press release from Mastercard illustrates how the networks, the partners and the customers benefits from these relationships:
Consumer expectations are evolving more rapidly than ever, and banks, financial institutions and digital players are looking for even more agility in bringing new solutions to market. Mastercard’s global reach and local roots afford it the ability to foster a strong, carefully curated network of technology partners that are qualified based on Mastercard standards and industry requirements. Mastercard is expanding its Engage program to support even more solutions and deliver better learning and promotional opportunities for partners.
Engage identifies, serves and promotes a network of more than 170 strategic partners who comply with Mastercard certification and rules to build and deploy new solutions on behalf of fintechs, banks and merchants. In the first quarter of 2020 alone, Mastercard Engage signed almost 50 new deals with partners such as Antelop, Dejamobile, MeaWallet, Netcetera, and Thales across Europe, Latin America, Asia Pacific and Middle East Africa.
Strengthening the capabilities of technology partners is even more critical during times of crisis, so fintechs can innovate faster and better serve consumers and businesses. Engage has enabled more than 200 million cards to support financial growth and market entry for fintechs around the world. Additional resources are now available for partners through the new Mastercard Engage website.
It has been said that the payments market and technology has changed more the past five years than the 50 years before that. In such rapid-changing environment it is crucial to stay up-to-date to provide relevant services that meet the customer experience that is expected, with the security required. Through great partnerships, this can be achieved.