Mastercard, the global payment industry giant, has made promises to increase its joint efforts in order to support the growth of Bahrain’s fintech sector and is already working towards keeping the commitment by partnering with Bahrain FinTech Bay.
These two entities look forward to work together to offer Bahraini SMEs and startups commercial and educative opportunities to advance their business prospects as well as technological capabilities. Mastercard has committed to host educational workshops for startups to mentor them according to current fintech trends which will enable these startups to find proper strategic partners in the long run.
The participating entrepreneurs will also be able to join the flagship award-winning program, Mastercard Start Path. This program aims to make startups more scalable by giving them access to channels globally. On top of that, strategic investments are also offered.
J.K. Khalil, the General Manager of Mastercard’s Bahrain and Saudi Arabia chapter, said: “Bahrain today is poised to be one of the leading fintech hubs of the region, thanks to a vibrant startup culture that is complemented by strong public sector backing. As a leading global technology company, Mastercard is well suited to offering the Kingdom’s startups with both commercial and technological support. Through platforms such as Mastercard Start Path, we will be offering startups with hands-on guidance, mentorship and engagement opportunities that will enable their long term success and raise the bar of innovation in the sector. The grassroots level expertise of Bahrain FinTech Bay combined with the scalability and global access that Mastercard can offer, makes this partnership a beaming opportunity for the country’s entrepreneurs, and a significant milestone in the Kingdom’s journey of becoming a cashless society.”
Bahrain FinTech Bay’s CEO, Khalid Saad added: “Bahrain FinTech Bay continues to strategically grow its local and international ecosystem and the partnership with Mastercard, one of the world’s leading technology companies and most recognizable brands will go a long way in such growth. Through this partnership, we look to further promote awareness and development of Bahrain’s FinTech and innovation ecosystem. FinTechs will also benefit firsthand from Mastercard’s Start Path platform aimed at helping them accelerate their growth.”
It is expected that this partnership will also help Mastercard to achieve its goals and strategic interests in the country with the help of Bahrain FinTech Bay.