Mamo Pay, the peer-to-peer mobile payment app for the MENA region, has joined the Visa’s Fintech Fast Track programme
This partnership will allow Mamo Pay to reach a wider audience and benefit from VisaNet, Visa’s global payment network, capabilities and security. Mamo Pay and Visa will collaborate on a range of initiatives via Fast Track, including the introduction of prepaid cards to drive financial inclusion and cashless adoption in Mamo Pay’s major markets.
The Mamo Pay platform empowers consumers and companies to handle their money seamlessly through an app that offers simplicity and utility – adopting a customer-first approach.
By joining Visa’s Fintech Fast Track Programme, Mamo Pay now has the ability to access Visa’s growing partner network and experts to help them integrate in the most efficient way possible with existing financial services.
Mohammad El Saadi, Mamo Pay co-founder, said, “Less than half of adults in the MENA region have access to a formal bank account, while even those that do, are often forced to rely on cash.
“Mamo Pay not only increases speed but removes all of the hassle associated with banking in the MENA region while also providing financial access to those that have been excluded from the traditional financial system. We are excited about partnering with Visa to deliver an intuitive, fast and effortless payments service to users and businesses across the region.”
Otto Williams, vice-president, strategic partnerships, Fintech and Ventures, CEMEA at Visa, said, “Fast Track lets us provide new resources that rapidly growing companies need to scale with efficiency. We are delighted to welcome Mamo Pay into our program and look forward to working with them on their payment solutions that will help promote financial inclusion in the MENA region.”
