Mastercard and Samsung sign Pay on Demand partnership
Mastercard and Samsung have announced a global partnership which will see the latter deploy Mastercard’s Pay on Demand platform.
Mastercard and Samsung aim to empower emerging markets
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.
Mastercard believes its Pay on Demand platform, which links banks, original equipment producers and telcos, enables greater financial inclusion in developing markets.
“At Mastercard, we see a connected world where opportunity and prosperity are possible for everyone, everywhere,” says Jorn Lambert, executive vice president for digital solutions at 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.”
Lambert adds that combining Samsung’s “device management and security expertise” with Mastercard’s “innovative technology”, the two firms are creating an ecosystem that can deliver “measurable, positive impact.”
Related: Mastercard announces Michael Miebach as incoming CEO
