Dapi, a UAE-based fintech company that is part of Hub71’s global tech ecosystem, is excited to announce a strategic relationship with global technology company Mastercard to bring account-to-account (A2A) payments to Mastercard Payment Gateway Services (MPGS).
At Seamless Middle East, the biggest show about how digital commerce is changing, the deal was signed.
With the help of Dapi’s knowledge of open banking and Mastercard’s many payment choices, this partnership will give businesses in the UAE a secure and easy-to-use A2A payment solution within the MPGS ecosystem. This will meet changing consumer needs and improve the overall payment experience. Hub71 helped make the partnership happen as part of its work to help its corporate partners and startups find business and market possibilities.
Through this partnership, both sides want to build an ecosystem that makes it easier for people to get access to financial services and drives innovation and growth in the digital economy of the region. This agreement will make it easier for hundreds of thousands of merchants to accept payments right away, redefining the idea of a smooth financial transaction on a scale that has never been seen before.
Mastercard and DAPI will soon say when the A2A payment system will go live for real.
“Today marks a new chapter in our journey to reshape the financial landscape,” shared Ihsan Al Hayek, co-founder of Dapi. “This is a significant milestone for the open banking agenda and the regional payment landscape, and our strategic alliance with Mastercard fortifies our influence in the MENA region, driving financial inclusion and ensuring a sustainable and inclusive digital economy for all.”
Mastercard’s Cluster General Manager for the MENA East, J.K. Khalil, said this about the partnership:
“Embedding Dapi’s advanced open banking solution within MPGS forms an integral part of our strategic blueprint to enrich and expand the payment methods available to our customers. We envision a future where secure, efficient A2A payments transcend from being merely aspirational to everyday reality, providing seamless transaction experiences for our customers.”
Early last year, Dapi became the first Open Banking player from the MENA area to join the Mastercard Start Path Open Banking program. During the program, Dapi used Mastercard’s expertise in open banking and worked with Mastercard’s ecosystem of banks, merchants, partners, and digital players from all over the world to bring better open banking solutions to the area and beyond.
Since 2019, Dapi has been supporting UAE fintech firms and corporations and extending its global network. It is backed by prominent local and global venture capitalists. Dapi’s cooperation with Mastercard strengthens its global ambition and financial services technology commitment.
