Mastercard has formed a strategic alliance with Euronet Pakistan, a leader in secure electronic financial transaction processing, to introduce Card-as-a-Service (CaaS) and Bank-as-a-Fintech (BaaF) solutions to Pakistan. These emerging models enable banks, non-financial institutions, and fintech companies to quickly create and launch innovative products with scalability and a faster time-to-market.
This partnership will establish a CaaS and BaaF hub, hosted on Euronet’s advanced payments platform, making Mastercard’s products and services accessible to a wide range of stakeholders. The integrated platform will allow businesses to swiftly introduce next-generation customer offerings. It also offers a streamlined process for issuer banks to roll out customer-focused solutions through off-the-shelf, ready-to-market use cases.
Moreover, the collaboration will provide customers with access to software development kits (SDKs) and ready-made bundled propositions, enabling them to offer tailored digital financial products, including those for youth and SME segments. For governments, the partnership supports digitized payment ecosystem mandates, facilitating financial wellness and educational apps for youth, and it aims to create a one-stop shop for services enriched with Mastercard’s exclusive products.
This venture is aligned with the commitment to enhance payment modernization and offer market-ready solutions to cater to the evolving needs of consumers in Pakistan. The collaboration aims to expedite the launch of user-friendly propositions within weeks, following a pay-as-you-grow model.
Additionally, Mastercard and Euronet plan to explore opportunities to expand these services to other markets in the Middle East and Africa.