Mastercard today announced a global partnership with Samsung to enable digital access to consumers and small businesses in emerging markets through its extensible Pay on Demand platform.
Mastercard’s Pay on Demand platform is designed to accelerate digital inclusion by bringing together financial institutions, original equipment manufacturers and telcos to holistically solve issues that have limited device financing in emerging markets. In line with Mastercard’s principles for data responsibility, the solution allows consumers to access devices in a pay-as-you-go model.
“At Mastercard, we see a connected world where opportunity and prosperity are possible for everyone, everywhere,” said Jorn Lambert, executive vice president, Digital Solutions, Mastercard. “The Pay on Demand platform enables us to deliver on that vision and foster financial inclusion, giving consumers an opportunity to participate in digital commerce. By combining Samsung’s device management and security expertise with Mastercard’s innovative technology, we are creating an ecosystem that can deliver measurable, positive impact to the communities we serve.”
Mastercard is collaborating with key players in the ecosystem to drive a new wave of inclusion through connectivity and smart devices, creating a digital economy that works for everyone. To accomplish this, the Pay on Demand platform consists of four components:
“Our vision is to inspire the world and shape the future through transformative ideas and technologies,” said KC Choi, executive vice president, Global Mobile B2B, Samsung. “This partnership with Mastercard is our way of making that future available to everyone by helping to close the digital divide, especially in emerging economies and countries.”
The platform, built by Mastercard Labs, will be launched with the Samsung Knox team in the Middle East and Africa region in early 2020 and extend to additional regions later this year.
ABOUT MASTERCARD (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.