Riyadh – Mubasher: Mastercard and Payment24 are extending their collaboration to enhance security and drive innovation in the fleet and fuel payment industry across Eastern Europe, the Middle East, and Africa (EEMEA).
This partnership aims to accelerate the transition to the secure EMV standard and help fleet operators reduce the risk of fraud associated with magnetic strip fleet cards, according to a press release.
By expanding their collaboration, Mastercard and Payment24 will provide modern fleet and fuel payment solutions to banks and fleet card issuers throughout the region.
Through this partnership, customers will have access to an end-to-end fleet management solution for quick deployment and scalability of secure fleet and fuel payment offerings.
The solution includes a range of EMV-based payment products and supports various modern payment methods such as tokenised tags, e-wallets, and vouchers native to the Payment24 platform.
Clyde Rosanowski, Senior Vice President of Commercial Solutions, EEMEA, at Mastercard, said: "By combining Mastercard's leading payment technology with Payment24's innovative and proven fuel payments platform, we deliver a solution for the region that enhances security and adds significant value and convenience for customers.”
Shadab Rahil, Joint CEO of Payment24, stated: "We are exceptionally proud of how our partnership with Mastercard has developed. The expansion of this alliance to EEMEA highlights the urgent need to get ahead of fraud in the fleet and fuel payments industry.”
Nolan Daniel, Joint CEO at Payment24, commented: "Our deep understanding and tailor-made fuel and fleet technologies go beyond providing secure EMV cards. We deliver mobile payments, windshield tags for identification, and real-time tracking of vehicles and fuel via telematics, all integrated within a dedicated vehicle and fleet management platform.”
Earlier in May, Mastercard announced restructuring its regional operations, appointing new division leaders for the Middle East and North Africa (MENA).
