During the Singapore Fintech Festival 2019, MasterCard has announced the launch of Fintech Express in the Asia Pacific. The company is providing its products, services, global licensing, and commercial agreements to the fintechs across the world. The Fintech as a Service platform, Rapyd, is joining the MasterCard as a partner for providing the fintech services to the users.
The Executive Vice President of MasterCard, Asia Pacific, Rama Sridhar, said that there are many partners of MasterCard globally. After launching this program, all the fintech will get all the services like speed, scale, performance, etc. The Fintech Express is a great achievement, and MasterCard is delighted and celebrating this phase. The Asia Pacific region lacks speed, and many startups can now take a step towards the payment systems in this region by this program.
This Fintech Express allows Rapyd licensing as a MasterCard issuer in two weeks. After the partnership with MasterCard, Rapyd will be able to issue cards for its clients in the Asia Pacific region. On the other hand, the API platform of Rapyd will provide payment solutions to the regional as well as global eCommerce merchants, gig economy platforms, and technology providers. This program will unite the payments and fintech capabilities together and reduce the timelines for the development.
Rapyd is a great fintech platform that allows many digital merchants, fintechs, and gig economy players to scale globally. According to the Vice President of Rapyd, Asia pacific, Joel Yarbrough, their partnership will develop the economy of the region at a faster rate. Now, the traditional players are shifted to the digital platform and initiating in the new payment services. There is a massive scope of development in the Asia Pacific because the region innovators want to have a fintech platform that offers services in scaling their operations within the area and also across the world.
The MasterCard Fintech Express is the next level of MasterCard Accelerate Platform that allows the company to work with fintech globally. But, Accelerate will enable fintechs to enter in the specialized programs that offer help in the growth and transformation of fintech.