Mastercard and NAPS, a leading Moroccan fintech, have signed a long-term partnership aimed at developing innovative payment solutions for individuals and businesses. This partnership consolidates the strong historic relationship between the two partners.
NAPS’s mission is to make digital means of payment accessible everywhere and for everyone in Morocco. By addressing merchants, companies and individuals through its ecosystem strategy, NAPS benefits from the expertise of more than 30 years of M2M Group in the publishing of electronic payment software and electronic transaction management solutions. secured. As a partner of Mastercard, NAPS benefits from access to its global network, its expertise and its broad portfolio of products and services, equipped with innovative and secure technologies.
In line with NAPS’ long-term strategy, this collaboration will strengthen its innovation capabilities through Mastercard’s advanced technology and optimize the time-to-market of its upcoming digital offerings.
« At Mastercard, we are committed to supporting a global network of innovators with the goal of building a more accessible and sustainable digital economy. We serve as a trusted partner to pioneering fintechs at all stages of their development, supporting them towards greater agility and speed. We are excited to share our technology expertise with NAPS to further our common goal of advancing inclusive growth. “, said Mohamed Benomar, Managing Director, MENA West, at Mastercard.
« The partnership with Mastercard will strengthen our position as a market-leading fintech and support the culture of innovation that is at the heart of everything we do. By accelerating the development of digital payment solutions in Morocco, it will also help consolidate our country’s status as the leading fintech hub in the Arab world. “, said Hassan Ghellab, PDG de NAPS.
NAPS and Mastercard aim to create new ecosystems (Smart City, Education…) of digital services in Morocco to unlock the full potential of electronic payments and provide users with an optimized experience through innovative services in order to promote financial inclusion. . These digital ecosystems will make it possible to develop high value-added applications and explore new service opportunities, thus contributing to innovation and the digital transformation of the sector.
The CGAP report Fintechs Across the Arab World, published in December 2020, highlighted the fact that Morocco is the third largest fintech hub among the 22 countries of the Arab League. High mobile coverage, a large unbanked population, an abundant supply of talent, infrastructure upgrades and government initiatives encouraging the adoption of digital financial services, coupled with enabling regulations, are among the key drivers of growth in this area.
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